By Maduka Nweke
Efforts by the government at the center to empower real estate operators to churn out houses that would help to crash the skyrocketing prices of properties both for rent, lease and buy are not yielding many dividends.
According to property agents in Amuwo Odofin Local Government Area of Lagos, Government policies can help to stimulate investment in the housing sector. For example, the government can offer tax incentives to investors who invest in the housing sector. This will encourage more investment in the sector, which will lead to more housing units being built.
Speaking to Daily Sun on the subject matter, Mrs. Eunice Oguadiuru, an estate agent, noted that if government can do away with a lot of documents, signings and payments before the Certificate of Ownership (C of O) is obtained, there will be accelerated process of obtaining the C of O.
“Government always considers the rich when the laws guiding rules are promulgated. This should not be so because all heads are not of the same height. You use the least as the yardstick otherwise very few people will meet government huddles.
“The housing sector is one of the most significant sectors in the economy. It affects the lives of people in so many ways, from providing shelter to generating employment and contributing to the growth of the economy. The role of government policies in shaping the sector cannot be overemphasised. Government policies are essential in the housing sector as they play a critical role in providing access to affordable housing, stimulating investment, and encouraging innovation. These policies can be implemented by both federal and state governments and they can have a significant impact on the housing sector,” she said.
An expert, Mrs. Monica Osaghae, noted that “Government policies can help to provide access to affordable housing for the low-income earners. For instance, the government can offer subsidies to developers who build affordable housing units. This will help to reduce the cost of housing and make it more accessible to low-income earners.
“Government policies can help to stimulate investment in the housing sector. For example, the government can offer tax incentives to investors who invest in the housing sector. This will encourage more investment in the sector, which will lead to more housing units being built.
“The government can set minimum standards for housing units to ensure that they are safe and habitable. This will help to protect the rights of tenants and ensure that they are not exploited by landlords. The housing sector is a significant contributor to the economy.”
She concluded that Government policies could play critical roles in shaping the Housing Sector Index. They are essential in providing access to affordable housing, stimulating investment, encouraging innovation, regulating the sector, and promoting economic growth.
Government policies can have a significant impact on the housing sector, and it is essential for policymakers to develop policies that are beneficial to all stakeholders in the sector.