In a fresh bid to curb the rising cost of housing in Lagos, the state government has intensified efforts to regulate agency and legal fees charged in property transactions by engaging leaders of Community Development Associations (CDAs) and Community Development Committees (CDCs) across all 57 local government and council development areas.
The initiative, led by the Lagos State Real Estate Regulatory Authority (LASRERA), follows a previous meeting with local government chairpersons and is part of a broader campaign to restore order and affordability in the built sector.
Speaking at the meeting, the Commissioner for Housing, Maruf Fatai, emphasized the government’s resolve to make housing more accessible for residents. “This move is not just about reducing excessive charges from property agents; it’s about ensuring that the average Lagosian can afford to rent or lease a home,” he said.
Also addressing the gathering, the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, stated that agency fees must be kept within a regulated range of 0 to 10 percent. “Any demand above this threshold is exploitative and will not be tolerated. LASRERA is here to protect tenants and landlords alike,” she added.
Bakare further warned residents about the risks of transacting with unregistered agents and encouraged grassroots involvement in the enforcement of housing standards and practices.
The government affirmed that partnering with CDAs and CDCs would help extend regulatory reach to informal property markets where most housing deals take place, enhancing transparency and consumer protection at the community level.
This effort is aligned with the state’s commitment to fair housing policies under Governor Babajide Sanwo-Olu’s administration, with a focus on improving affordability and trust in the real estate sector.
