The Managing Director, Remax Realtors LTD, Mrs Funke Adesoji, has appealed to the Central Bank of Nigeria (CBN) to prevail on mortgage banks to offer real estate firms soft loans so as to off-set the current 20 million housing deficit.
Adesoji in a briefing said the greatest challenge in the real estate business is the inability of players in the sector to access loans.
She said it is possible for the federal government to achieve a house for all, but that what it needs to do is to compel mortgage banks to grant real estate firms soft loans.
Adesoji said: “I remember what we did in Idimu when we were building Good-luck Jonathan estate, which is part of our housing scheme. We already had subscribers before we finished building.
“We did a ten years plan and we asked people to come and buy and pay in ten years, and it was just one or two people that defaulted out of about 30 of them. People paid in due time.”
She said with access to funding, the model can be replicated in different parts of the country, which will in-turn reduce the challenge of housing.