The Lagos State Government is taking firm action to reduce housing costs. Through a new partnership between the Lagos State Real Estate Regulatory Authority (LASRERA) and the chairmen of all 57 local councils, residents can now expect lower and fairer estate agency charges.
This collaboration directly targets the high agency and legal fees that have burdened many Lagosians. Speaking at a recent meeting, the Commissioner for Housing, Hon. Maruf Akinderu Fatai, explained that the goal is to make housing more affordable and bring order to the real estate sector. According to him, housing is a basic need, not a luxury, and the government wants to ensure it is within reach for everyone.
In addition, the Special Adviser to the Governor on Housing, Hon. Barakat Odunuga-Bakare, introduced a new fee structure. She made it clear that agency fees must stay between zero and ten percent. “Anything above that is unacceptable and unfair,” she said.
She also shared the state’s long-term vision. “Our ultimate aim is monthly rent payment. We know it won’t happen overnight, but we are working hard to make it possible,” she added.
Moreover, she urged residents to protect themselves by dealing only with real estate agents and developers who are officially registered with LASRERA. “Unregistered agents can put your money and safety at risk,” she warned. “LASRERA is here to protect both tenants and landlords, and we won’t stop until the industry is safe and fair.”
Finally, the public is encouraged to use the LASRERA website to check if an agent is registered. They can also report any illegal practices through the platform. With this new approach, Lagos is setting a fresh tone in real estate one built on fairness, transparency, and trust.
