Housing Woes in Nigeria

by Annuva Homes

There is no doubt that in a densely populated urban area like Lagos, there won’t be a housing deficit problem. Today, an average worker, even from the middle-class segment, is no longer in a position to buy a housing property conveniently as 60-70% of his or her income is used to defray rent. Isn’t it crystal clear that the increase in the price of most Nigerian property is posing a significant challenge to the nation’s real estate sector? 


 In most Nigerian cities, the real estate sector usually is overpriced, which discourages potential investors. Lagos, Abuja, and Rivers are the most affected cities, which are the commercial nerve centres of the nation. Consequently, this has widened the social divide among different income earners. For instance, there are some areas, here in Lagos, where a middle-income earner, let alone a low-income earner, cannot afford to rent a home. This is what drives both low and middle-income earners to less expensive areas, thereby extinguishing the hope of a possible drop in rent costs in those areas.

Nigerians deserve quality and affordable houses that they can call their own. This is where our new product line, rent-to-own-scheme, comes in. Our real estate company- Annuva Homes- is positioned to provide flat units (1, 2, and 3-bedroom) where tenants will only be required to make 2-5% payments above their monthly rent in instalments over some time. They will then qualify to own the property at the end of the moratorium. The unique value proposition of this initiative is that there are no mortgage payments required. 

Read Also: 10 Useful Tips to Avoid a Real Estate Scam

Our company, Annuva Homes Limited was established in 2010 as a result of the niche it wanted to satisfy which is to provide quality and affordable homes for both the middle and lower classes of society. We develop and sell a variety of housing units that include Mini Flats, flats, bungalows, duplexes, and shops; Annuva Homes Limited is privately owned and incorporated in Nigeria. We also provide both superb and excellent real estate services to homeowners, occupiers, and as well as investors. In 2015, our company was awarded “the most innovative real estate company in Lagos state”. In 2016, Annuva Homes was named one of the greenest companies in Lagos state, because of our passion for the environment.

We have a vision to build the largest enduring and sustainable customer-friendly real estate company in Africa. Our mission is to continuously provide our teeming customers/clients with affordable and quality homes. Our core values are what support our vision, shape our culture, and reflect what our company stands for. They are the essence of our company’s identity, principles, beliefs, and philosophy of values. Over time, our core values have helped to provide our dear company with both internal and external advantages, and these core values include integrity, trust, accountability, transparency, consideration, and commitment.

Nothing is more important than a good, safe, and secure home. Home is where love resides, memories are created, friends always belong, and laughter never ends. You leave home to seek your fortune and, when you get it, you go home and share it with your family. That’s why we, at Annuva Homes Limited, don’t just build houses but build homes for our customers. Give us a call today, and you will be glad you did.

Leave a Comment

Let's chat
Checking out Housing Woes in Nigeria page.
How can we help you?