ERCAAN ADVOCATES FOR SALE OF SEIZED 753 HOUSES TO THE PUBLIC AT BELOW MARKET RATES | Prestige Real Estate News

The Estate Rent and Commission Agents Association of Nigeria (ERCAAN), has suggested that the confiscated 753 duplexes seized in Abuja from the former Governor of the Central bank (CBN), Dr Godwin Emefiele be sold to Nigerians at subsidized rates.

The National President of the association, Hon Godwin Alenkhe made this known at the end of the inaugural meeting of the newly elected executives of the association in Lagos, recently.

He advised government to sell the houses to interested Nigerians below the market value as a short-term solution to the serious issues of housing shortfall in the country. He said giving the seized properties out at market subsidized rates will enable the average Nigerian to have access to the seized luxury apartments.

The ERÇAAN President suggested that members of credible real estate associations such as NIESV, ERCAAN and AEAN should be appointed as lead agents for prospective sales.

On *Excessive Estate Agency Fees*

Alenkhe attributed the abnormal increase on estate agency charges (fees) to the activities of unregistered rent agents and greedy landlords. He said such activities has imposed hardship on the people, especially in Lagos. He said it is the position of ERÇAAN that government should set up monitoring desks in the zones and a special mobile task force to practically put the menace on check.

Source: Ercaan News