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51% of adult Nigerians live in rented houses — NOI Polls

By YINKA KOLAWOLE

A national survey carried out by NOI Polls Limited has revealed that 51 percent of adult Nigerians currently live in rented apartments, while 31 percent claimed they live in their personal houses, which may have been built, bought or even inherited.

The report of the housing snap poll, conducted in the week of November 10th 2014, also showed that vast majority of Nigerians (85 percent) showed keen interest in mortgage financing as an option of owning personal houses. It added that 15 percent would not consider owning a house through mortgage financing mainly due to ‘unstable income’.

According to the survey, the amount paid in rent revealed that irrespective of geo-political zone, the larger proportion of Nigerians (40 percent) mainly pay between ‘¦ 20,001 (about $1230) – ¦ 100,000 (about $6262) as rent yearly; though a considerable proportion of residents, especially in the North-Central zone pay much higher.

Respondents to the poll were asked five specific questions. With the aim of ascertaining the current state of accommodation in Nigeria, respondents were required to provide their accommodation status. Findings revealed that slightly more than half (51 percent) of the respondents indicated ‘they currently pay to live in a rented apartment’ while (31 percent) confirmed that ‘they live in their personal house’; respondents in this category may have built or purchased their houses or may have acquired it by inheritance. In addition, (11 percent) claimed they ‘live with family/friend in a personal house’ while (4 percent) reported they ‘live with family/friend in a rented house’

Analysis by geo-political zone revealed that a higher proportion of residents in the South-East (66 percent), South-South (62 percent), South-West (59 percent) and North-Central (51 percent) currently pay to live in rented apartments. On the other hand, almost an equal proportion of residents in the North-West and North-East zones either own their houses or pay to live in a rented apartment.

To ascertain the amount paid as rent, respondents who currently live in a rented apartment (51 percent of the total) were further asked: Thinking about the cost of housing, what is the cost of renting your house yearly? The outcome establishes that the larger proportion (40 percent) of those who live in a rented house pay between ¦ 20,001 – ¦ 100,000 as rent yearly. This is followed by 16 percent of the respondents who affirmed they pay between ¦ 100,001 – ¦ 180,000 and 12 percent who admitted they pay between ¦ 180,001 – ¦ 260,000 as rent yearly. Only 9 percent of the respondents surveyed acknowledged that they pay ¦ 340,000 and above as rent yearly.

Evaluation from the geo-political zone standpoint shows that the standard range of amount paid on rent across all geopolitical zones is between ¦ 20,001 – ¦ 100,000 yearly, however, the North-East zone has the highest proportion (52 percent) of respondents who pay between ¦ 20,001 – ¦ 100,000 as rent yearly. In addition, the South-East zone accounted for the highest proportion (23 percent) of respondents who pay between ¦ 100,001 – ¦ 180,000; the South-South zone has the highest proportion (21 percent) of residents who pay between ¦ 180,001 – ¦ 260,000 while the North-Central zone accounted for the highest proportion (19 percent) of respondents who pay ¦ 340,000 and above as rent yearly.


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