Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has said that the huge number of dead assets, especially in the A-rated areas in Nigeria is not helping the desired growth in the real estate industry.
Oba Ogunwusi made this known in his welcome address at the first Lagos edition of National House Fair by BSTAN Homes and properties which took place recently at Oriental Hotel, Lekki, Lagos.
He explained that many things are difficult in the country, stating that with the increasing rate of dead assets in many A-rated areas in the country, high cost of products, the younger generation will find it difficult to have access to mortgage, let alone own a property.
He said:”This is a great time in the Real Estate industry in Nigeria. We have many dead assets in many A-rated areas in this country. “In Lagos here, Ikoyi has many and several high brow areas.
And yet, 25% of Nigerians are without homes. Everything is difficult in this country and it is greatly affecting young people. “It is difficult for young people to access mortgage. Young people are afraid to get loans because of the high interest rate.
“Influential people think solely about themselves not minding the future of those around them. This is why what BSTAN Homes and properties are doing is a welcomed idea.”
He noted that the novel idea of Bstan Homes and Properties to create properties for not just the upper-class but also the lower class is a very fantastic effort. He encouraged BSTAN Homes team to continue thinking out creative ways of making owning a home easy for the masses.
Also speaking at the event, the CEO of BSTAN Homes and Convener of the National House Fair, Dr. Becky Olubukola, stated that BSTAN Homes and Properties group is the passionate about improving the lives of every Nigerian citizen by providing comfortable and affordable homes for people of any level of income