Soaring Rents Drive Ondo Residents From Akure

High rent in Akure, the capital of Ondo State is forcing many low income earners to move closer to their hometowns or ancestral origin due to high rent in the city.

This has led to a significant change in rent prices across various areas in Akure with some apartments costing over N1million per year.

Rent Prices

Oba-Ile Single Room Self-contained N300,000 – N500,000

Oba-Ile Room and Parlour Self-contained N450,000 – N700,000

Alagbaka Single Room Self-contained Over N500,000

Alagbaka Room and Parlour About N700,000

Alagbaka 2 Bedroom Flat N900,000 – Over N1 Million

Ijapo Room and Parlour N400,000 – N500,000

Ijapo 2 Bedroom Flat N700,000 – N800,000

Pressure on residents

Many rent paying residents are finding they can no longer afford to live in the city of Akure. Mrs Adelegan, who moved out after her husbands passing, said she could no longer afford to pay rent in Akure due to her small fish trading business. She moved to Akungba-Akoko.

“I could no longer afford to pay rent after my husband passed away. I am just a small fish trader. I have 4 children so I could not afford to pay the rent with my fish trade. I had to move back to my paternal hometown in Akungba-Akoko where the rent prices for houses are much cheaper.”

Imisi Ayolomo, another resident of Oba-Ile said that his rent had increased significantly from N400,000 to N900,000. After some of the tenants including himself spoke with the landlord, the prices had been lowered to N700,000. However, he said the increase has put added strain on his family and may make him move back to Owo.

“We have quite a lot of pressure with food prices being so high and now we have rent to worry about. I am really thinking of moving back to my town in Owo once my wife agrees.”

Landlords are also feeling the pressure

One businessman from Alagbaka said he was paying N1.2 million per year for a 2 bedroom apartment. While he can pay the rent, he said the price is too high for a state with many civil servants, artisans and small traders.

“I can afford the rent but it is too high. Not many people can afford the rent. What about those who can’t? We are a civil servant state with a lot of civil servants, artisans and small traders. We should not be paying as much rent as states with several industries.”

Kehinde, a landlord said rent prices have increased due to increased living costs. He added that landlords rely on their rent to pay their bills.

“It isn’t our fault rents are high. Most landlords rely on their rent. We all know food prices are high. I think that’s why rent prices have gone up so that we have enough money to get us through the year.”

He went onto say that landlords should be considerate and have multiple income streams. In the past, residents and youth groups have protested against the increase in rent prices. They said they were being charged random amounts, agency fees and it is becoming harder to find good housing.

Source:leadership.ng

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