Lagos State Partners with Community Leaders to Reduce High Housing Costs

 


To help bring down the high cost of renting and buying homes, and to make the real estate business more open and fair, the Lagos State Real Estate Regulatory Authority (LASRERA) is now working together with community leaders across the state.


These leaders, known as the Chairmen of Community Development Associations (CDAs) and Community Development Committees (CDCs), represent all 57 local government and local council areas in Lagos.


This new partnership is aimed at stopping real estate agents and lawyers from charging too much for their services. It will help make housing more affordable for people living in Lagos.


At a recent meeting with these community leaders, the Commissioner for Housing, Maruf Akinderu Fatai, explained the purpose of this plan.


“Our goal is to reduce the high fees some property agents are charging and to bring order into the housing sector. We want to make life easier for the average person in Lagos,” he said.


Housing, he added, is a basic need, and the government is serious about making it more available and affordable.


Also speaking at the meeting, Barakat Odunuga-Bakare, the Governor’s Special Adviser on Housing, made it clear that new rules are now in place.


“Agents must not charge more than 10% in fees. Anything above that is not allowed and is seen as cheating,” she said firmly.


She also reminded everyone that the long-term goal is for Lagos residents to eventually pay their rent monthly — not yearly — making housing easier to manage for everyone.

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