Rising house rents in the Federal Capital Territory are putting increasing pressure on household incomes, with some residents now spending a substantial portion of their annual earnings on accommodation and cutting back on food, education, transportation and other essential expenses.

A News Agency of Nigeria study cited by The Whistler found that the rising cost of accommodation has forced many Abuja households to reduce their standard of living as rent increases continue to outpace incomes.

The report comes as the National Bureau of Statistics recorded a sharp increase in rent inflation, with the rate rising to 33.8 per cent in July 2026 from 14.79 per cent in June.

Residents interviewed across different parts of the FCT described significant increases in annual rents, with some saying the increases had affected their businesses, savings and ability to meet other household obligations.

Abuja residents face steep rent increases

Olusegun Daniels, a businessman living in Karu, said the annual rent for his two-bedroom bungalow increased from N1.5 million to N3.5 million.

He said the more than 100 per cent increase had affected his business, which was already experiencing weak turnover.

Daniels also said the rent for his business premises had risen from N300,000 to N450,000, adding to the financial pressure on his household and business.

Another resident, Emeka Okafor, who lives in Wuse, said the rent for his one-bedroom apartment increased from N1 million to N1.8 million before rising further to N2 million.

Although the higher rent had become difficult to afford, Okafor said he had continued living in the area because of its proximity to his business.

He said the combination of weak business activity and rising rents had left him and others struggling to keep up with their financial obligations.

Families cut back on household needs

Evelyn Bode, a civil servant living in Kubwa, said a two-bedroom apartment that previously rented for between N600,000 and N800,000 was now going for between N1.5 million and N2 million a year, depending on the location and condition of the building.

The rising rent has forced her family to make changes to its household spending.

Bode said she had moved her children to cheaper schools and reduced spending on food as the cost of maintaining the household became increasingly difficult.

She said the pressure had reached a point where meeting basic needs had become a challenge.

Another civil servant, Livinus Anya, who lives in Nyanya, said his annual rent increased from N600,000 in February 2025 to N1.6 million in December 2025.

Anya said he previously made monthly contributions and savings to raise money for his annual rent, but the new rent was beyond what his savings could comfortably cover.

He said the pressure had also affected his ability to use his vehicle because he could no longer afford to combine fuel costs with rent, school fees and feeding expenses.

According to him, a two-bedroom apartment in a new building in the area now rents for between N2 million and N2.5 million annually.

Two-year rent demands add to pressure

Sani Musa, a teacher living in Lugbe, said the demand for two years’ rent upfront by some landlords was making it increasingly difficult for low-income earners to secure accommodation.

Musa linked the increase in rents to several factors, including the housing deficit, rural-to-urban migration and the rising cost of building materials.

He called for government intervention and regulations to address sharp increases in rent and prevent what he described as unreasonable hikes by landlords.

He also argued that any regulation introduced to address the problem would need to be properly enforced.

Workers struggle to keep pace with housing costs

Abigail Abidolu, a civil servant living in Apo Resettlement, said her one-bedroom apartment had increased from N500,000 to N1.2 million.

She said the increase in rent had come at a time when salaries had not increased substantially.

According to her, some additional income opportunities and training-related benefits previously available at her workplace had also been cancelled, further reducing her family’s financial flexibility.

The experiences of the residents interviewed reflect the broader challenge created when housing costs rise faster than household incomes.

For many workers, annual rent payments are not the only housing-related expenses. Agency fees, legal charges, service charges and other costs can increase the amount required before a tenant can move into a property.

Housing affordability remains a major challenge

The rising rents are occurring alongside broader pressures on household budgets.

Residents are also dealing with higher costs for food, transportation, healthcare, education and other necessities, leaving less disposable income for housing.

The NBS rent-inflation figure cited in the report highlights the scale of the pressure facing tenants across the country, while the individual experiences in Abuja show how the increase is affecting households at different income levels.

The continued increase in rent also raises concerns about housing affordability in the FCT, particularly for low- and middle-income workers who depend largely on fixed salaries.

As rents rise, households may be forced to move farther away from employment centres, reduce the quality or size of their accommodation, share housing with others or divert money meant for other household needs towards rent.

Calls for affordable housing and rent regulation

Residents interviewed in the study called for stronger government intervention to expand access to affordable housing and address rising rental costs.

Anya urged governments at different levels to provide low-cost housing for workers, while Musa called for measures that would regulate rent increases.

The residents also pointed to the need for more affordable housing units to reduce pressure on the existing rental market.

The housing challenge in Abuja is further complicated by population growth, demand for accommodation around employment centres and the cost of developing new housing.

As construction costs remain high and demand for housing continues, residents face the challenge of finding accommodation they can afford without sacrificing other essential household needs.

For many Abuja households, the rising cost of rent has therefore become more than a housing issue. It is increasingly affecting how families allocate their income across food, education, transport, healthcare and other basic needs.

The post Rising Abuja Rents Consume Workers’ Annual Earnings as Households Cut Spending appeared first on Housing TV Africa.

Sudan recorded the highest inflation rate among the African countries reviewed in July 2026, with annual consumer price growth reaching 41.61%, while Nigeria ranked third at 15.43%, according to the latest available consumer price index data.

The figures, drawn from national statistical agencies and central banks, cover the most recent readings available between June and July 2026. South Sudan was excluded because its latest reported inflation figure dates back to May 2025.

Sudan’s 41.61% inflation rate was significantly above the rest of the countries in the ranking. However, the figure represented a sharp decline from 51.28% in June, a reduction of 9.67 percentage points.

Despite the annual slowdown, consumer prices in Sudan continued to rise during July. The country’s general Consumer Price Index increased 1.47% month-on-month, while urban inflation stood at 45.24% and rural inflation at 39.85%.

Malawi ranked second, with inflation easing to 20.80% in July from 21.10% in June. The decline was mainly linked to lower food-price pressures, with food inflation falling to 14.3% from 14.7%.

Non-food inflation in Malawi, however, moved higher to 32.2%, largely because of increases in charcoal and firewood prices. The figures highlight the continued influence of food and energy costs on household purchasing power across African economies.

Nigeria came third at 15.43%, down from 15.91% in June. While the headline rate continued to moderate, food inflation moved in the opposite direction, rising to 20.31% year-on-year.

The National Bureau of Statistics reported a sharp increase in Nigeria’s monthly food inflation rate, which rose to 5.56% from 3.75% in June. Higher average prices for rice, water yam, plantain, fresh pepper, onions, tomatoes, garri, beef and eggs contributed to the increase.

Ethiopia ranked fourth, recording 15.30% inflation in July, compared with 13.90% in June. Food inflation rose to 15.7%, while non-food inflation increased to 14.8%. Monthly consumer prices also rose 2.6%, the strongest monthly increase since March 2025.

Sierra Leone followed at 14.77% in June, up from 12.69% in May. The increase was driven largely by non-food inflation, which reached 21.03%. Housing, water, electricity, gas and other fuels recorded an annual increase of 81.33%, while transport prices rose 40.23%.

Rwanda recorded 14.50% inflation in July, up from 13.60% a month earlier. Transport prices increased 24.2% year-on-year, while housing, water, electricity, gas and other fuels rose 21.0%.

Egypt ranked seventh with 13.00% inflation in July, compared with 12.20% in June. Housing, water, electricity, gas and fuel recorded a 31.1% annual increase, while transport and education costs rose 21.1% and 20%, respectively.

Libya recorded 12.70% inflation in June, down from 14.00% in May. Food inflation also eased substantially, falling to 13.90% from 17.60%.

São Tomé and Príncipe posted 9.70% inflation in June, up from 9.20%, while Botswana completed the ranking at 9.40%. Botswana’s decline was linked partly to lower domestic fuel prices introduced on July 7.

The inflation trends have implications beyond household consumption. Higher prices for building materials, transport, energy and other inputs can increase construction costs, put pressure on property development budgets and affect the affordability of housing and infrastructure projects.

For Nigeria, the combination of easing headline inflation and rising food inflation remains particularly important for the housing sector. Developers, contractors, homebuyers and mortgage borrowers continue to operate in an environment where the cost of essential goods and services can influence construction budgets, household disposable income and the ability to finance housing.

Across the 10 countries, five recorded higher inflation while five saw their rates decline. The contrasting movements underline the different pressures facing African economies, with food, energy, transport and broader consumer costs remaining important drivers of inflation.

The post Top 10 African Countries With Highest Inflation Rates in July 2026 appeared first on Housing TV Africa.

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.

The post Lagos Slashes Real Estate Fees to Ease Housing Burden appeared first on Housing TV Africa.

A recent report shows that the real estate market is not growing in a balanced way. There are too many luxury homes, such as villas, and not enough affordable housing for everyday workers. This makes it hard for many people especially the young and low-income earners—to buy a home.

Officials believe several factors are driving prices up. These include the high cost of land, rising prices of building materials, and steep loan interest rates. Speculators are also playing a big role by buying land just to resell it later at a much higher price. This behavior limits the number of homes being built and pushes prices even higher.

To solve this, the government has told agencies to take action. They must create plans to reduce construction costs and increase the supply of housing. There will also be stricter rules to stop people from using land auctions to inflate prices.

Planning must match real needs. Authorities should keep enough land for housing and not give it all away for shops or office buildings. The goal is to make homes more available and affordable.

The problem is already clear in the numbers. In the first quarter of the year, some areas saw land and housing prices rise by 20% to 40%. Experts blame this on rising material costs, loan rates, and limited housing supply due to legal delays.

To make the market more transparent, the government is building a digital platform. This platform will handle all parts of real estate deals—from tax payments to land registrations. It will work like a stock exchange and give people clear price data while also reducing fraud and tax evasion.

Officials also plan to make it easier and faster to approve housing projects. They want to cut down the time and cost of paperwork by 30%, so more projects can start sooner.

With these changes, the government hopes to control property prices, stop speculation, and make housing more affordable for everyone.

The post Govt Moves to Cool Hot Housing Market as Prices Spike appeared first on Housing TV Africa.

A recent report by Knight Frank revealed that 72 percent of residents are actively looking to buy property. Demand is especially strong among high-income Saudis earning over SR50,000 ($13,300) per month, with 93 percent eager to purchase a home.

The survey of over 1,000 individuals, including 835 Saudis and 100 expatriates, also highlighted a rising interest in homeownership among non-citizens. Around 77 percent of expatriates expressed a desire to own homes in the Kingdom.

This shift reflects Saudi Arabia’s evolving real estate landscape as the country works toward its Vision 2030 goal of increasing homeownership to 70 percent. By the end of 2023, the homeownership rate had already reached 63.7 percent, putting the Kingdom on track to achieve this target.

Despite these gains, affordability remains a major challenge. Many aspiring homeowners are now considering renting as an alternative. In 2024 alone, housing transactions totaled SR267.8 billion across 236,690 sales. This marks a 37 percent increase in transaction volume and a 27 percent rise in value compared to the previous year.

Several key factors are driving this surge in homeownership demand. Many buyers see real estate as a smart investment, while others are drawn to family-friendly communities and high-quality housing. The survey found that 48 percent of respondents were seeking a primary residence, while 31 percent were looking for homes for their children or extended family. These figures indicate that real estate is not just a financial asset but also a long-term stability plan for many families.

Saudi Arabia’s property market has experienced significant price hikes, especially in major cities. Since 2019, apartment prices in Riyadh have surged by 75 percent, while villa prices have increased by 40 percent. In Jeddah, real estate transactions jumped 53 percent in 2024 alone, with property values rising by 43 percent. Dammam has also seen impressive growth, with residential transactions up by 49 percent and apartment prices increasing by 6.2 percent.

While the government is working to increase housing supply, affordability issues persist, particularly for middle-income buyers. Although luxury and premium housing options are expanding, many buyers struggle to find homes within their budget. Most prospective homeowners plan to spend between SR750,000 and SR2.5 million. However, market trends show a mismatch, as the average price of a four-bedroom villa in Riyadh stands at SR2.8 million—beyond the reach of many middle-class buyers.

Financing plays a crucial role in homeownership. According to the report, 58 percent of Saudi buyers rely on family support for their purchases, while 40 percent use self-financed solutions. Mortgage-backed transactions are also increasing, thanks to government initiatives such as Sakani and Dhamanat, which provide easier access to home loans.

The housing preferences of buyers are evolving. More than half of the survey respondents prefer villas, with wealthier Saudis favoring larger properties. However, townhouses and apartments are growing in popularity, especially among younger buyers and middle-income families seeking affordable alternatives. Riyadh and Jeddah remain the top choices for homebuyers, with 54 percent of respondents favoring the capital city as their preferred location.

Although property ownership remains strong, the rental market is also expanding. Many younger Saudis and expatriates are opting for rental properties due to rising housing costs. This trend reflects the dynamic nature of Saudi Arabia’s real estate market, where both homeownership and rental demand continue to evolve.

With Saudi Arabia making significant investments in its real estate sector as part of Vision 2030, the market’s future will be shaped by affordability, price trends, and shifting consumer preferences. As the Kingdom nears its 70 percent homeownership goal, how well the sector adapts to these challenges will determine its long-term success.

The post Saudi Arabia’s Housing Boom: Demand Soars as Prices and Ownership Rates Climb appeared first on Housing TV Africa.

The cost of renting homes in Lagos continues to rise, leaving many residents struggling and calling for government intervention.

Damilola Adebayo’s 71-year-old father recently relocated after his former landlord sold the house he was renting. In Lagos’ Agege area, he paid N260,000 for a single room—without basic self-contained facilities. Adebayo contributed N120,000 to secure the space despite living in Ibafo, Ogun State, while working in Ikeja.

He shared how two of his friends are also struggling to raise N370,000 for a single room, accusing landlords of exploiting tenants despite the high cost of construction and maintenance.

Last week, on-air personality Gbemi O.O drew attention to the rent crisis with a post on X, which received 2.4 million views. Her post sparked reactions from frustrated tenants, including @demolarashid, who faced a 400% rent increase, and @AdeyefAbiola, whose landlord doubled his rent.

Calls for Rent Regulation Grow

Yetunde, a tenant in Ikeja, revealed that her rent rose from N700,000 to N900,000, a 29% increase, despite no improvements to the property. She urged the government to regulate rent, ensuring tenants aren’t at landlords’ mercy.

Joshua, another tenant, echoed similar concerns, criticizing the growing demand by landlords for two years’ rent upfront. Faith, who commutes from Ogba to Ikeja, also called for government intervention through rent control policies.

Landlords Cite High Building Costs

Landlords attribute rent hikes to rising construction expenses. Adeniyi Adenekan explained that the price of cement rose from N4,000 to nearly N10,000, alongside increasing government levies. Although he hasn’t raised rents in three years, he understands why others have, noting some landlords depend solely on rental income.

Suraj Ogundijo also pointed to inflation and soaring material costs as key drivers of rent increases.

Real Estate Agents Blame Economic Conditions

Chief Dozie Ebikam, Vice Chairman of APICAN, Ogba Branch, noted that property prices surged following fuel subsidy removal. He revealed that a three-bedroom flat in an estate that cost under N1 million in 2022 now exceeds N3 million.

Ebikam dismissed claims that agents cause rent inflation, asserting they only benefit when people can afford to rent. He supported rent regulation to ensure fairness between old and new properties.

Monthly Rent System Considered

Lagos State Governor Babajide Sanwo-Olu proposed a monthly rent system in 2021 to ease tenants’ financial burdens. Special Adviser on Housing, Barakat Odunuga-Bakare, confirmed plans to implement the scheme by early 2025, starting with the public sector.

Ebikam welcomed the policy, citing similar practices in developed countries, which ease financial strain and promote better money management. However, landlords like Adenekan and Ogundijo opposed the move, warning that it might worsen financial pressure on tenants.

Housing Deficit Worsens Rental Market

Lagos’ rent crisis is exacerbated by a housing deficit exceeding three million units. A 2024 report by BuyLetLive revealed that 98.5% of Lagos residents live in rented apartments. The report also highlighted that areas like Yaba, Surulere, and Gbagada are in high demand but lack sufficient housing to meet rising needs.

With inflation, fluctuating exchange rates, and surging building costs, rental prices continue to climb, deepening concerns among tenants.

Efforts to reach Lagos State officials for comments were unsuccessful at the time of this report.

Source: WHISTLER

The post Rising Rent Crisis in Lagos: Tenants Demand Government Intervention as Housing Costs Surge appeared first on Housing TV Africa.

Investors in Nigeria’s housing sector have expressed concerns that inflation, rising cement prices, and the cost of dollar-denominated building materials significantly impact housing costs and their business operations.

Industry players highlighted that the volatility of the foreign exchange market and the increasing cost of cement are contributing to longer delivery timelines, forcing them to secure additional funding to complete ongoing projects.

During the handover ceremony of the newly built Cello Luxury Apartment 1 in Lekki, the Managing Director of Leadroitt Realty Limited, Mrs. Gbemisola Ojerinde, shed light on the challenges investors face in the current market. She revealed that to mitigate the effects of inflation, her company had resorted to advance purchasing of materials.

“We face the challenge of inflation; It is so bad. For example, the price of cement at the time we started this project was N3000, and today it’s N8300. The prices of many other items, especially those denominated in dollars, have skyrocketed, and this remains a major challenge. You’ll see that housing costs continue to rise,” Ojerinde said.

She added that to minimize the pressure, her firm secured materials in advance through forward contracts, including lifts, generators, and other essential items. Despite being impacted by inflation, the company was able to cushion the pressure on their operations.

Similarly, Senior Investment Adviser at Leadroitt Realty Limited, Damilola Adeniran, noted that the skyrocketing prices of building materials have caused substantial increases in the cost of completing projects within their set timelines.

“The cost of building an apartment in Nigeria has risen significantly compared to three to five years ago. The instability in FX and the price hikes of materials that are dollar-denominated are affecting the industry,” Adeniran said.

Despite these challenges, Ojerinde emphasized the importance of adhering to regulatory standards and utilizing quality materials, underscoring the industry’s responsibility to maintain high construction standards regardless of the prevailing economic challenges.

The post Inflation and Dollar-Denominated Materials Drive Up Housing Costs, Say Investors appeared first on Housing TV Africa.

Wike made the remarks during a visit to Zeberced Limited Quarry in Kubwa, Abuja, on Saturday. While addressing concerns about the high cost of accommodation in the FCT, the minister emphasized that increasing prices are a reflection of broader market conditions.

“Everything has increased in cost, including housing,” Wike explained. “The person who built the houses didn’t do so without the expectation of making a profit.”

READ ALSO: Fuel Price Hike Causes a Surge in Housing Costs in Nigeria

Wike dismissed complaints about rent hikes, noting that rising costs are not unique to housing, but affect all sectors. “We can’t isolate rent increases as an issue. The cost of everything has gone up,” he added.

When asked about potential government intervention, Wike clarified that the FCT Administration is not considering any form of rent control. “We are not running a socialist or communist system; we operate a capitalist economy where market forces dictate prices,” the minister said.

READ ALSO: NIESV Lagos Reports 300% Increase in Housing Costs Over Eight Years

While acknowledging the possibility of government regulations in the housing sector, Wike emphasized that the government cannot fully control housing prices. “The government can regulate, but we cannot take over the entire housing process,” he concluded.

The post Wike Blames Market Forces for Rising Housing Costs in Abuja appeared first on Housing TV Africa.

This announcement was made during the 2024 Estate Week’s press briefing held recently in Lagos.

The institute’s chairman, Gbenga Ismail, emphasized the urgent need to declare a state of emergency in the housing sector. He highlighted the violation of Nigerians’ right to homeownership, as enshrined in the 1999 Constitution, due to the escalating housing costs.

“If you compare the number of people who could afford homes five years ago to those who can today, the difference is stark. Earnings have also decreased significantly. With building costs rising by 300% and purchasing power dropping, homeownership is becoming increasingly unattainable,” Ismail stated.

Skyrocketing Rents

Ismail further pointed out the challenges posed by the rising cost of rent, which has made securing adequate shelter difficult for many Nigerians. “The average Nigerian spends around N600,000 per month on essentials such as food, transportation, and utilities, excluding rent. This amounts to an annual expenditure of N6-7 million. When rent or mortgage payments are added, homeownership becomes nearly impossible for the average person,” he explained.

READ ALSO: UK Spending Watchdog Warns On Govt Migrant Housing Costs

He urged the government to address housing affordability, stating that it is becoming out of reach for many Nigerians. “Homeownership is not just an economic issue but a security problem,” Ismail added, calling for localized production of building materials to mitigate costs.

Dependence on Imported Materials

“Seventy percent of building materials are imported, which, coupled with the fluctuating exchange rate, has severe consequences,” Ismail noted. He pointed out that even locally sourced materials like cement are expensive, and labor costs are high. The importation of iron rods further exacerbates the situation, with domestic steel companies like Ajaokuta underutilized.

READ ALSO: Former NBRRI CEO Urges Nigeria: Embrace Local Materials to Tackle Soaring Housing Costs

Prioritizing First-Time Homebuyers

Ismail called for prioritizing first-time homebuyers and essential workers such as medical professionals, armed forces personnel, and police officers. “Providing housing for these critical workers can create a stable foundation for our society,” he asserted.

Government Initiatives

Emphasizing the need for government policies to ease land acquisition, Ismail stressed that greater availability and affordability of land are crucial. Last year, Vice President Kashim Shettima stated that bridging the country’s 28 million housing gap would require N21 trillion. Recently, the Minister of Housing and Urban Development, Mr. Ahmed Dangiwa, announced the Federal Government’s award of contracts for constructing 3,500 housing units in 13 states.

This alarming increase in housing costs and the subsequent challenges faced by Nigerians underscore the urgent need for comprehensive housing policies and local production of building materials to make homeownership more accessible.

The post NIESV Lagos Reports 300% Increase in Housing Costs Over Eight Years appeared first on Housing TV Africa.