The demand for houses in Abuja remain on the increase despite the fact that prices of housing and accommodation has risen to roof top. So many people find it difficult to secure housing space for their family in Abuja. This has prompted the city municipal government to declare a state of emergency policy on low cost housing projects and accommodation. Beloe are some reasons why houses problem might persist into the near future -
The increasing migration of people to Abuja has more than tripled the original target of population that the city was originally envisaged and designed to accommodate. This new development has clearly brought an acute housing shortage which in turn has led to an increase in houses for sale in Abuja. Real estate developers and investors have cashed into this developing opportunity to take advantage of the rising rate in housing and accommodation
The height level of migration trend into Abuja city has not only over stretched the real estate sector, it has also reflected in almost all other sectors. Beside the increase in houses for sale, Hotel industry is also experiencing a boom. Affordable housing and accommodation has increased out of reach. This has prompted the Abuja city government to partner with private sector in constriction of new low cost housing estate and affordable apartments to curtail and mitigate this ugly trend.
Beside the problem of rapid migration rate to Abuja, rapid infrastructural development is another factor responsible for the increase in houses for sale in Abuja. Increased infrastructural project and economic activities attracts more and more people to Abuja, who sees it as an opportunity to increase their own standard of living by engaging in white collar job. This in turn leads to increase in demand for houses and accommodation, a situation whereby developers are forced to take advantage of constructing new residential buildings
In conclusion, Abuja real estate and property development sector remains a lucrative investment opportunity for investors and developers. These development trends by all indices and indication will continue into the foreseeable future. With more and more government infrastructural development and expansion, investment opportunities for both local and foreign investors, geometrical upsurge in population growth, Abuja real estate market and housing development will maintain its formidable growth and remain an attractive sport for both local and foreign investors