Unleashing the potentials of housing affordability among the Nigeria low-middle income groups

Abstract

Housing affordability remains a major issue in Nigeria especially for those residing in major cities. Purchasing of a desired house is a key life accomplishment that top mostly every household or individual’s list. The search for a suitable house comes with diverse consideration while relating with the situation of the housing market, hence the intervention of Government towards housing affordability are generally acknowledged as a vital way of improving the condition of housing affordability for the low-middle income groups. This paper examines the various factor that can enhance the potentials of housing affordability in Nigeria. A survey research approach was adopted in the obtaining the needed information for the study. Questionnaires was distributed in the southwestern part of Nigeria. The data obtained was analysed using a descriptive analysis. There is need for a concerted effort of both government and individuals towards the unleashing of affordable housing delivery in the country. The findings reveal that provision of infrastructural facilities, stimulation of local building material usage, review of housing related polices and so on are the most factor that can promote affordable housing in the country. This study could become a basis for government to revise the current housing policy design for housing delivery and ownership in the country. The paper concludes that the combination of identified factors through government support will stimulating a balanced equilibrium and accelerate the release of housing affordability across the country.