12/10/2026
People think regulating rent is the solution to the high cost of accommodation.
But what if we are just trying to control the symptom instead of fixing the real problem?
A few months ago, a lady called us out because, to her, we are one of the biggest real estate firms in Akure and we are part of the reason rent is expensive.
But the real problem is supply
People forget that Rental property is like any other business where youโre investing to make a profit,
The moment you realize that you are no longer going to make anything, Thats the you stop.
A landlord collecting 500k for two bedroom in 2022 was buying fuel below #200 per liter. Today, that same fuel is above โฆ1,300 per litre.
Add the rising cost of building materials, labour, maintenance
Prices of many things have tripled since 2023. But somehow, we expect price of rent to remain the same?
We already have a problem more people looking for houses than the numbers of available
So if we trying to regulate rent without increasing the number of houses on the market , we may even end up discouraging the people who are still building.
So Whats the solution ?
The solution is we need more people to build.
Government needs to make it easier for developers to build by providing better access to financing, land and infrastructure.
Because when we have enough houses, landlords will have to compete for tenants. And when landlords start competing, that can naturally put pressure on rent prices
The problem is not just expensive rent. The bigger problem is that we donโt have enough houses.
If we want more affordable housing, we need to start building more houses.
The comments is open, letโs hear your opinion
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