Unlike a decade ago when large houses were seen as a status symbol, time seems to be changing now as more middle class earning Nigerians prefer smaller apartment of two or three bedroom and mini flats.
Some estate surveyors and valuers have given the reasons for this trend among which is the fact that most of the smaller units apartments that abound are serviced ones meaning the electricity, furniture and appliances have all been provided for occupants by the property manager. This category of properties could be found in the highbrow areas of Lekki, Ikoyi and Victoria Island of Lagos State.
An expert and former president of Nigeria Institute of Estate Surveyors and Valuers, Mr. Bode Adedeji gave the reason for the shift explaining that “many people go for smaller apartments because of the huge amenities benefits of doing. Also, security is guaranteed to a certain level and also people prefer to live among other people of equal social standing and economic status hence they prefer the smaller apartments in the gated communities”
According to the experts, cost of maintaining larger houses is another immense turn off for many aspiring home owners.
It is believed that most of people with preference for smaller apartments are young working class persons climbing up the corporate ladder and lonely older couples that are either childless or have grown up children living elsewhere.
