The Real Estate Market Needs To Adopt The Ajo Community Contribution Model: How Nigeria Can Make Housing Affordable For Everyone.

adoption of ajo in real estate market in nigeria

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For the most part, in cities across the country of Nigeria, and more so in cities worldwide, the absence of neighborly camaraderie is stark and startling. People don’t care about how their actions affect their fellow Lagosian, New Yorker, ‘Abujan’, etc. Frankly, it is depressing.
These days, however, as land space becomes finite and older buildings are falling into disrepute, we believe we have to establish a sustainable way of really making housing affordable for everyone. How does housing affect health and well being
”Affordable housing refers to the relative means through which one could make a place, whether commercial or residential, affordable to the general buyer. “Relative” is the keyword here because purchasing power varies amongst individuals. Therefore, making housing affordable involves negotiation tactics, the median price of a similar property in that market, and the ability of a person in that wage bracket to afford it.”
 
By that token, we at Pelow have figured out a way to achieve this goal:
real estate market
Credit: cmty.com
We must adopt the Esusu/Ajo/community funding approach to establish a “GoFundMe” for the real estate market in Nigeria.
Sure, some people never heard of GoFundMe until Erica from Big Brother Naija 2020 had a campaign running on her behalf. Nevertheless, it does not stop people from seeing the applicability of this solution in the housing market. Facibus Studios, Of course, we can comprehend that the real estate market in Nigeria is not as ‘sexy’ as BBN, and neither is community development. Despite this, we see this model solving the impending housing affordability crisis in Lagos, Abuja, Port Harcourt, New York, Seattle, Orlando, London; we can go on and on without end!
Also Read: Ajo benefits of contributory thrift saving scheme
Take, for example, a group of former classmates spread across around the world that need to contribute towards renovating their old school building. They need a reliable way to raise funds for this dear place to them, and banding together to raise these monies on a dedicated platform is the way forward.
Also Read: Should I buy or rent an apartment
Another example is that a family of three recently lost the primary breadwinner. The surviving parent cannot afford the rent or mortgage for the next three months because their savings have gone towards funeral arrangements. In this case, we can see that the wider city or country community has to come together to help out. Pelow Faq
Also Read: Pelow Making Housing Affordable
This is why we care so much as to how we can make housing affordable for people. It’s to help those amongst us who have nowhere else to turn to but us.

Pelow Team

Pelow, a platform by Facibus, democratizes the global real estate market to make housing affordable by capitalizing on the “negotiation gap” between buyers and sellers. Namely, over 1 billion people seek affordable housing, globally; 95% of people overpay for real estate due to lack of knowledge and the median income remains stagnant while prices rise. So, on this channel, we focus on how Pelow provides a custom platform for property owners, agents, and brokers to list, negotiate deals faster with clients thereby reducing costs for both parties and contributing to ensuring that we make both commercial and residential housing more affordable. Pelow also provides a platform for people to raise money for their real estate needs, whichever the case.

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