How do we confront the challenge of overpriced Houses in the real estate Business

[GIFTMICHAEL]

The challenge of overpriced housing in real estate is a very big problem.
Housing should be the cheapest thing to afford.

As mentioned here government is the reason why there is is overpriced housing.

Government need to invest in housing scheme to make housing more affordable to the people.
Government need to regulate the price of building houses and make it affordable. Etc

 

[Richard92]

There can only be high price in real estate housing only when there is Monopoly in the real estate business. If it is not monopolize there will not be high price in real estate because there will be a lot place to buy real estate properties. These days house are a lot cheaper because government are now investing on real estate business.

 

[Ojonuyo]

You are right, real estate business is know becoming a wonderful business for investment, things are changing and population is increasing daily. This increase has resulted to the high demands of houses most especially in the urban areas where numerous commercial activities takes place.

 

[Mawome]

Overpriced house in real estate is not something that we can put to a stop just. It's not possible because estate owners has the right to sell their property in whatever amount they want to, if the Government think that their prices is on the high side, then they should put a stop to it,

 

[Kelvin7656]

The real estate industry is reeling on all sides. Environmental change, shifting political climates, volatile markets, rising mortgage rates, and evolving technology trends are just some of the challenges Real Estate agents are facing everywhere.

Ask your typical agent for a list of their biggest challenges, and you’ll invariably hear many of the same answers repeated.

Rather than repeat commonly recognized problems, we’ve decided to focus on the 5 most critical challenges facing real estate professionals today.

Whether you agree or not, the challenges listed here affect solo agents and brokerages in one way or another. Some of them are unique to real estate, others are applicable to just about any industry. But the solutions offered are practical and can be implemented even by agents without a lot of experience.

 

[Sariana23]

The best way is to have the power of persuasion directly with the owners of said houses, so that they come to reason with respect to the excess of prices. In my country there is an office dedicated to giving the value to homes, where they take into account the years of construction, the area and the general conditions of the home, including the size. This information is also held by experts authorized by the government.

 

[Ridorz]

The way the houses are cursing nowadays is very difficult for some people to afford it in a area that I am living. The reason is that those old houses has been vandalized and rebuild by the inheritance people or buyer, as they are rebuilding it to latest one they will add more money on a monthly payment.

 

[Setfragil]

The challenges overpriced houses is caused as a results of high concentration of companies, factories and big offices which leads to the influx of people in the city. There is nothing much an individual can do to help the situation except the government steps in by building many but cheap low cost housing estate.

 

[Richard92]

The challenges overpriced houses is caused as a results of high concentration of companies, factories and big offices which leads to the influx of people in the city. There is nothing much an individual can do to help the situation except the government steps in by building many but cheap low cost housing estate.

One way that we can solve the situation or the challenges of vaporizing houses in real estate is by the government assist in real estate developers with free lands, with is the cost of the building will not be that high.

 

[Ralphjoe]

I'm not the government, the government should look up to this matter, reduce the cost of the house to favour some individuals that finds the house super high. But if it's an individuals hour put up for rent then it will be hard for the government to intervene cos the private individual is also looking for a way to make it's own money.

I know this problem is not you cuz but we can prefer some good solutions to them and hopefully the government would be reading this and they will take a cue to make this right. I feel really bad when I see the prices of most houses being so overpriced that the normal average Nigerian cannot afford them.

 

[Sincerem]

I know this problem is not you cuz but we can prefer some good solutions to them and hopefully the government would be reading this and they will take a cue to make this right. I feel really bad when I see the prices of most houses being so overpriced that the normal average Nigerian cannot afford them.

Too bad to see such too. Some persons over-hype a building and makes it costly for others to rent or hire. Even going beyond the asking price of the apartment and setting their own price tag. Such kind of persons are those who abuse the govt for fraud but what are they doing??

 

[Senator]

Confront the challenge of overpricing in the real estate business by enduring that if the clients are not interested in your price burning theirs, then sell when our know you won't be at a loss

 

[Dowenship]

The issue of overpriced Houses In the real estate Business is a serious cause to worry, In Abuja, the capital city of Nigeria, it has led to so many people not being able to afford these houses there moving to rural areas and leaving these houses and estates empty for a very long time.
Now is the time to nip the problem in the bud, let's reason together folks, how can we solve this problem?

Its not actually a problem, the reason why house is bring overpriced over there is because of the caliber of people leaving there, not house alone is overpriced everything in that area is overpriced.

 

[Ralphjoe]

Its not actually a problem, the reason why house is bring overpriced over there is because of the caliber of people leaving there, not house alone is overpriced everything in that area is overpriced.

I don't agree with you that the issue of overpriced houses it's not really a big issue it is a big issue because this will lead to so many houses being empty which will create a vacuum and the housing sector and so finding a solution to this problem would go a long way in bridging the gap between the poor and the rich.

 

[Sotherefore]

Location is one of the things that determine the price of a particular land or property, in such an industrial environment you should not expect the price of anything to be less expensive, except in the rural area where things can be a little bit affordable

 

[Shigobad20201]

The issue of overpriced Houses In the real estate Business is a serious cause to worry, In Abuja, the capital city of Nigeria, it has led to so many people not being able to afford these houses there moving to rural areas and leaving these houses and estates empty for a very long time.
Now is the time to nip the problem in the bud, let's reason together folks, how can we solve this problem?

Overprice in housing estate is as a result of bad economic condition in the country, house owners starts increasing their rent in the urban area because they believe people are earning much to afford the house, but people decided to go back to rural area because the house is now cheap.

 

[Ralphjoe]

Overprice in housing estate is as a result of bad economic condition in the country, house owners starts increasing their rent in the urban area because they believe people are earning much to afford the house, but people decided to go back to rural area because the house is now cheap.

Now I completely agree with you that it is the economic realities of the country that makes most house owners in the luxury area to increase the price of their properties but the truth is that most of these properties that their prices has been increased is now even seeming to be quite expensive for even the rich people themselves that they can't even afford it because of the price increment. Now you will agree with me that this is a huge problem in the property or real estate business.

 

[Prettyjanie]

I don't think as individuals we have much to do because we can't dictate to the owners of the house how much money they should charge their tenants, except the government comes up with a scheme to regulate the prices.

 

[Kelly5]

Only the government can regulate this cause no one can do anything if the owner of the buildings decides not to sell their houses at your prices. Only the government can control the prices provided there’s a law that supports it

I think so. It is only when the government steps into the housing issues of unoccupied houses within the capital that changes can actually occur on that front. Else, there's nothing you can do about it than go live in the rural area for the moment

 

[Kunkun]

I don't think there is enough we can do , seeing as real estate business takes huge capital to start or be a part of the business. The huge prices associated with the houses in Abuja is because of the location. Abuja is believed to be a Cosmopolitan city where the wealthy reside, understandably some of these things will be expensive.

Yeah i agree, there is little that can be done on the part of the tenants unless the government may be intervenes with helpful policies but with where we are i doubt that's a possibility