Residents of Port Harcourt have continued to decry the surge in house rent in Rivers State and are appealing for swift government intervention to make Housing affordable and accessible to the people.
Investigation along SARS road in Port Harcourt revealed that a self-contained apartment rents for approximately Two hundred and fifty thousand naira to Seven hundred thousand Naira per annum, while two-bedroom flats range between Eight hundred thousand to One point six million naira annually.
Prior to the administration of President Bola Tinubu, a self contained apartment went for 150 to 170 thousand naira while a two bedroom flat was between three hundred and fifty thousand and five hundred thousand naira.
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Two tenants Mrs. Annette Olocha and Mr John Akpan said it was becoming increasingly difficult to find affordable housing in Port Harcourt.
They called on the government to regulate housing so that it can be affordable to people with meagre income.
However two landlords in one of the Estates in SARS road, Mr Chinle Etitiwon and Mrs Elizabeth Innocent said they were only trying to keep up with the cost of building materials, basic repairs and maintenance , hence the reason for the rising rental cost.
”As the demand for housing in Port Harcourt continues to rise, residents and property owners alike are navigating the challenges of a fluctuating real estate market and without a functional government policy on rent increment and payment there will be no end in sight for hike in rent.” Mr. Etitiwon said.
