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High prices ground Nigerians' housing dream

Campaigners try to pressure government to check skyrocketing prices as millions left out of property market.

Last Modified: 12 Apr 2013 19:11
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Nigeria has some of the most expensive real estate in the world, which means millions of people in Africa's most populous country are priced out of the property market.

Banks charge as much as 25 percent interest on home loans, and in many cases, the money has to be paid back as soon as five to 10 years.

In a country where the average income is just over $1000 a year, affordable housing is the need of the hour.

Now, campaigners are putting pressure on politicians to check the skyrocketing property prices.

Al Jazeera's Yvonne Ndege reports from Abuja.

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Source:
Al Jazeera
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