How to overcome the issue of high price of houses that leads to unoccupied houses

[Dylinks]

Housing has been a major challenge for most government. If government can put an establishment that can regulate the activities of this house owner in such that all houses will register under the establishment and the income can be done through establishment it would reduce the menace.

 

[Ojonuyo]

You are right, houses are too expensive this days, most especially in the urban areas that are equipped with enough social amenities such as hospital, power supply, good road and many more. I believe if the government can reduce housing tax the prices will be affordable

 

[Seun4luv]

Housing prices continue to rise due to very strong demand but low mortgage rates are helping buyers offset this increased cost. Lower mortgage rates are keeping the home buyers afloat amidst continuous price gains.

 

[Patrik]

rent them simply, it's way better than leaving them closed for no purpose or profit, there are always people that are looking for houses to rent, and renting is way affordable than buying for sure

 

[Adebayonle7]

I think house owners are forgetting that some houses depreciate in value, looks, and standard over time. Spending a fortune to build does not mean all these money must be realized in little or no time. In fact, if houses are well established and their prices are minimal, it will attract highly interested people and draw competition. This will prompt some individuals to even voluntarily add to the set price just to win over other interested candidates.

 

[Damismiling]

To overcome this challenge of higher prices leading to unocuppied houses, the owner of the house should give room for paying installmentally, if this is done it will attract some persons to pay but by bit until the are able to complete it rather than just leaving the house unoccupied

 

[Damscooguns73]

Some of this estates that leaves their buildings unoccupied for so long, the owners might not have built the houses from his own pocket money,it might be from embezzlement or a corrupt way to acquire the money. No business will build houses and not be considerate at the end and such person has to know that he cannot or might not acquire all the money used when leasing it out

 

[Nicklas22]

Rents are rising. The number of low-income units is dwindling. And efforts to address the issue in the region have met with little success while the number of homeless residents, particularly in the District, rises.

 

[Heatman]

This is a very serious thing in my country currently especially the capital city where several Estate houses where built that so many people can't afford their prices and so the owner of such houses leaves the house empty and unoccupied for as long as he can.
Going through the highbrow area of Abuja the capital city of Nigeria, you will notice a silhouette of beautiful arranged similar houses, if you check them, they are all empty because of the outrageous prices put on them.
Now this issue is generating a buzz right now, how can we remedy the situation, how can the government remedy this situation? Please Iets discuss this.

Is there any other way but to cut down the cost of the houses? I'm sure that they can actually cut it down but simply because the state is regarded as a prestigious state the Federal Capital Territory, they wouldn't want to cut down the cost.

 

[Tiwa]

I absolutely disagree with you on this. Remember that he mentioned the capital city, that is enough to make the government do something about it. Why build a house and have it uninhabited leaving it as possible den for thieves and miscreants.

You are remoty right on government putting up some laws.or taxes to force the hands of the house owners but they can't only do this to a limited level.
It doesnt stop.owners from stating their expected rent and I think most times, this high prices are to control the caliber of people I'm such areas.
Such places demand high networth individuals to maintain their prestige as residential areas for the affluent.
There's little anyone can do about it.

 

[kayode10]

The problem with those developers is that they want to recoup their initial investment as soon as possible. As a result, they tend to over price the The rentcof the property. The best solution to this menace among the real estate developers is that Government should launch housing scheme. Housing scheme developed by the government will help to democratize housing for coming citizen. This make is easy to afford housing as government doesn't make profit their priority.

 

[Niftyyem]

You are remoty right on government putting up some laws.or taxes to force the hands of the house owners but they can't only do this to a limited level.
It doesnt stop.owners from stating their expected rent and I think most times, this high prices are to control the caliber of people I'm such areas.
Such places demand high networth individuals to maintain their prestige as residential areas for the affluent.
There's little anyone can do about it.

You are right because it all boils down to the fact that they own their houses and can demand whatever they so wish. However, according to my first submission, those owners who would dare leave houses unoccupied for several years and would not even consider bringing down the rent are mostly embezzlers who never worked for the money.

 

[btaliat]

The bitter truth is that those estates were not built from hard earned money but from proceeds of corrupt practices and embezzlement. No business minded individual will build and leave it unoccupied for years without a care.
The best the government could do is to start heavily taxing those properties so as to bring a little reluctance to those who just own assets because they needed a way to launder funds embezzled.

You may cogent reason. Every investor that got his investment through hard earned money won't leave his investment idle. But because the money is ill gotten, they don't care if the property is occupied or not. Taxation, as you rightly said should be the option to discourage this act.

 

[Tiwa]

You are right because it all boils down to the fact that they own their houses and can demand whatever they so wish. However, according to my first submission, those owners who would dare leave houses unoccupied for several years and would not even consider bringing down the rent are mostly embezzlers who never worked for the money.

Yeah I forgot that part of embezzlers.They definely are and is no secret.
Quite unfortunate there is no actual practical use of all our laws instituted in our constitution.
People of no integrity gathering the nation's wealth while true labour and decent characters are tramped.

 

[Jonaville1]

It has been a common thing here, houses are being built but the average man can't afford it. And not many rich people are without houses so you can't expect them to leave their current place to relocate to another one. That's why you most of those beautiful houses without occupants.

 

[maventiger]

The major reason why such vacant houses 🏡 are not occupied is the failure of the investor to check the type of structure to erecet which will match the going rental rate in the environment. If the rental rate in an environment is $350, it should be $350 whether new or old.

 

[Kamon c4]

The problem of high cost of accommodation in Nigeria is quite alarming and this problem is accompanied with the high rate of inflation and high standard of living. The only solution I can recommend is the government taking over and control the real estate markets. Estates are owned by individuals of companies. Only government can set out laid rules to control the price

 

[Ridorz]

The problem is in hands of the houses owner, they supposed to reduce the price or rental, so that it will affordable for people to pay. But the issue is that most of house owners doesn't care about it because they have a lot of money that is coming to their Puckett every day by day. Most of them are government.

 

[Trexxxy]

I think they need to reduce or create some sort of subsidized offer for people to occupy these houses. Or better still, some of these buildings should be sold . Since government is quite incapable to manage them they should allow a private firm to manage and reappropriate the funds back into government coffers.

 

[Sammyesx]

I won't entirely blame the owners of these houses for putting high prices on their property, land in places like that cost a lot of money and those are quality building, you don't expect them to charge low after all the money they spent building such houses. Property tax will be the best option to remedy the situation but it will be unfair to those owners.