High Abuja Property Rental Prices Caused by Inflation and Mass Urban Migration – MD, Livemore Homes and Properties.
Abuja, Nigeria – The dream of owning a home in the nation’s capital is becoming increasingly elusive for many. A recent special documentary produced by Voltech TV has thrust the alarming rise in property purchase and rental prices in Abuja into the spotlight, revealing a market strained by powerful economic forces.
In an exclusive one-on-one interview, the Managing Director of Livemore Homes and Properties, Mr. Joshue N. Eze – a young, key, and vibrant player in Abuja’s real estate scene—broke down the factors fuelling this affordability crisis.
When confronted with the question on everyone’s mind—”Why the relentless hike?”—the Managing Director pointed to a “perfect storm” of economic and social pressures.
“The twin challenges of rampant inflation and mass migration to urban areas are placing unprecedented pressure on the city’s housing infrastructure,” he stated. The soaring cost of building materials, labour, and land, driven by inflation, has made new developments more expensive. Concurrently, the continuous influx of people into Abuja in search of opportunities has created a surge in demand that the current housing stock simply cannot meet.
This imbalance, he explained, is the fundamental engine driving rents and purchase prices to new heights, squeezing out middle-income earners and creating a burgeoning demand for affordable options.
However, the narrative is not one of pure doom and gloom. In a compelling turn, the property expert revealed a significant silver lining for investors and forward-thinking homebuyers.
Amidst the challenges, he noted, lie “significant opportunities for those with a keen eye.” The key, according to Mr Eze, is strategic positioning.
“The current market dynamics are actively creating smart and strategic locations on the city’s periphery and within developing districts,” he revealed with conviction. “These are the areas that will undoubtedly blossom into the highbrow areas of tomorrow.”
This insight suggests a shifting map of prestige and value within the Federal Capital Territory. For those priced out of established neighbourhoods like Maitama or Asokoro, the future may lie in identifying and investing in these emerging hubs early, before they become the next real estate goldmines.
When quizzed about the current investment opportunities at Livemore Homes and Properties, the Managing Director stated that a “wide array of investment opportunities are available, ranging from Land Banking and Build-To-Sell to Short Lets, Joint Ventures, and Commercial Property Development.”
He further stressed that all Livemore wealth-building opportunities are backed by free consultancy services, flexible payment plans, and are situated across various strategic and prime locations.
Interested investors can contact Livemore Homes and Properties by visiting their office at House 87, 321 Road, Off 32 Crescent, 3rd Avenue, Gwarinpa II, Abuja. Or via Email: info@livemoreproperties.com.ng
Or Phone/SMS: +234 805 664 7500
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