Home Housing Firm plans to provide affordable housing through flexible mortgage facility

Firm plans to provide affordable housing through flexible mortgage facility


An Abuja-based real estate development firm, BSTAN Homes, has expressed worry over the huge housing deficit of 35 million in the country, coupled with poor mortgage system and high rents.

Its Managing Director, Bekky Damilola-Oke, who expressed this concern, in Abuja, said that the firm is passionate about assisting government in providing mass housing for Nigerians.

According to Damilola-Oke, the challenge in the sector had been inability of Nigerians to access mortgage loans, thereby causing rents to remain high, and subsequently resulting to unoccupied buildings in abundance across the country, Vanguard reported.

Damilola-Oke berated some developers, who fail to consider the economic realities Nigerians are struggling with, by building housing types that are not affordable to particularly low income earners.

She also disclosed that the company had established BSTAN Savings and Loans that would enable people register in their co-operative, so that they could access mortgage loans at zero per cent interest rate as members.

“We at BSTAN Homes have taken the bull by the horn to reduce homelessness in the country and develop the sector. We are also now in Ghana to assist the government there to provide its citizens with affordable houses.”

However, she expressed dismay with the way the issue of housing was being treated by those in government. She said successive administrations had not done much to help Nigerians access houses and the pressure had become much on them, as they grapple with other issues.

She said: “Most families are faced with problems of paying rent or having shelter over their heads, but the moment they can access a good mortgage system with zero per cent interest rate, then you have solved 50 per cent of problems of many Nigerians. This would increase the standard of living in the country, reduce death rate, and improve employment.”


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