is that the sector was struggling with increasing pressure and demand for housing that are affordable due to increasing rate of urbanisation.
He said the formal rental housing has potential for significant demand with future growth envisaged as urban areas grow and mobility increases, low competition due to the fact that most of rental housing available for people on low/medium income is informal, poor quality, insecure and inequitable and strong potential for creating long term financially sustainable housing organizations.
According to Okogwu, the housing industry is inundated by too many problems, some of which include, too many national housing policies, huge rise in apartment rent, influence of bank capital and vacant apartment that are not within the control of the low-income earners.
Source: News Formal (newsformal.com)
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