Home Abuja City News Tenants in Abuja Alarmed by Soaring Rental Costs for Self-Contain Apartments

Tenants in Abuja Alarmed by Soaring Rental Costs for Self-Contain Apartments

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Residents of Abuja are raising urgent concerns over the skyrocketing rental prices for self-contain apartments, with costs now reaching alarming figures between ₦1.5 million and ₦2 million.

Historically, self-contain apartments in Abuja were available for between ₦400,000 and ₦600,000. However, economic pressures and inflation have led to a dramatic increase in housing costs, leaving many tenants struggling to afford basic accommodation.

Many tenants have reported significant rent hikes from their landlords. One individual shared that her rent increased from ₦700,000 to ₦1.2 million, a move she described as unaffordable. Another resident noted seeing listings for self-contain apartments as high as ₦2.5 million.

This surge in rental prices is attributed to several key factors. Inflation in Nigeria has pushed landlords to increase rents to cover their expenses, including the rising cost of building materials. Additionally, a growing demand for housing in Abuja contrasts with a limited supply, creating a competitive market that drives prices higher.

As a result of these rising costs, many tenants are forced to consider relocating to less desirable areas or suburbs, such as Karu, Kubwa, or Lugbe. Reports of discrimination and extortion from landlords and agents have also surfaced, with some demanding additional fees or bribes for tenancy agreements.

The current rental market in Abuja poses significant challenges for residents, particularly those on fixed incomes. The alarming increase in rental prices for self-contain apartments underscores the urgent need for affordable housing solutions in the city.

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