Real Estate Developers Association of Nigeria (REDAN) says high mortgage interest rates pose a significant obstacle to housing affordability, particularly for low-income civil servants.
REDAN President Akintoye Adeoye said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
Mr Adeoye raised concerns over the soaring mortgage rates in the country, stating that it has become nearly impossible for low-income earners to own homes.
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