FG approves uniform costs for Renewed Hope Housing models throughout the nation

The Federal Authorities has uniform sale costs for housing models below its Renewed Hope Property Programme throughout all states of the Federation.

This disclosure is contained in an announcement issued by the Director, Press and Public Relations of the Federal Ministry of Housing and City Improvement, Badamasi Haiba, on Thursday, October 23, 20525.

The housing models, which comprise one-, two-, and three-bedroom semi-detached bungalows, are a part of the Ministry’s efforts to make homeownership extra accessible and equitable for Nigerians.

Haiba within the assertion famous that value of a one-bedroom semi-detached bungalow is now N8.5 million, a two-bedroom semi-detached bungalow, N11.5 million, and three-bedroom semi-detached bungalow now goes for N12.5 million.

Promote affordability, transparency, equity

Haiba stated the adoption of uniform promoting costs goals to advertise affordability, transparency, and equity, guaranteeing that Nigerians throughout all areas have equal alternatives to profit from the Renewed Hope Housing Programme.

He stated, “The accepted promoting costs are: One-bedroom semi-detached bungalow: N8.5 million, Two-bedroom semi-detached bungalow: N11.5 million, and Three-bedroom semi-detached bungalow: N12.5 million.

“The adoption of uniform promoting costs goals to advertise affordability, transparency, and equity, guaranteeing that Nigerians throughout all areas have equal alternatives to profit from the Renewed Hope Housing Programme.”

In line with the assertion, the Minister of Housing and City Improvement, Ahmed Dangiwa, acknowledged that precedence within the allocation of the housing models will likely be given to low- and middle-income earners in addition to civil servants in any respect ranges of presidency.

This precedence listing may also embrace staff within the organised personal sector with verifiable sources of earnings, and Nigerians within the Diaspora who want to personal properties within the nation.

Making his personal contribution, the Everlasting Secretary of the ministry, Dr. Shuaib Belgore, defined that a number of fee choices have been supplied to make the homes reasonably priced and versatile. These embrace outright (full) fee, mortgage, rent-to-own scheme, and installment fee plans.

The Ministry additional introduced that the sale of the finished housing models throughout the northern and southern areas will quickly begin.

Functions may be made by means of the Renewed Hope Housing on-line portal at , or obtained from the Ministry’s headquarters and subject workplaces nationwide.

What you need to know

The Renewed Hope Estates and Cities Programme is a flagship initiative of the President Bola Tinubu administration designed to bridge the hole in Nigeria’s housing sector.

Launched in February 2024, this system commenced with the flag-off of the three,112-unit Renewed Hope Metropolis challenge within the Karsana District, Section 3, Federal Capital Territory, Abuja.

The Renewed Hope Cities and Estates Programme is a part of a Public-Personal Partnership challenge established in December 2023 between the Federal Ministry of Housing and City Improvement and a consortium of corporations, specifically Continental Civil and Normal Building Restricted and Ceezali Restricted. This collaboration seeks to assemble a complete of 100,000 housing models nationwide.

Every Renewed Hope Cities is slated to characteristic no less than 1,000 housing models per website inside one location in every of the six geopolitical zones of the nation, together with the FCT. Concurrently, Renewed Hope Estates are anticipated to characteristic a minimal of 500 housing models per website throughout the remaining thirty (30) States.