Abuja tenants lament rising cost of rents
By Hauwa Yakubu, Ifeoluwa Omosebe, Blessing Johnson, Mariam Ihezie & Fariha Lawal Tenants in the Federal Capital Territory (FCT) have lamented the rising cost of accommodation, blaming inflation, increasing construction costs and alleged excessive charges by property agents for the growing housing burden. Residents who spoke to Abuja Metro said rents had increased significantly […]
Residents of the Federal Capital Territory (FCT) have expressed concern over the increasing cost of accommodation, citing inflation, rising construction expenses, and alleged exorbitant charges by property agents. Rents have surged in recent years, with additional fees such as agency, agreement, and caution fees, electricity, water, and transportation costs further straining household incomes.
Matthew Mike, a Gwarinpa resident, paid N2.3 million for a studio apartment, describing the price as nearly quadruple the amount two to three years ago. He blamed the high costs on "greedy agents" and called for stricter regulation of property agents, including caps on commission fees, an end to repeated inspections and finder's fees, mandatory registration, and penalties for excessive charges.
Other residents attributed the rising accommodation costs to the broader economic crisis, including the high cost of construction materials, goods, and services. Some suggested stronger regulation of property agents could help moderate rents and reduce the pressure on tenants.
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