A growing number of Nigerians are turning to rental properties instead of homeownership, according to the Chairman of Exclusive Estates. This shift is primarily driven by escalating property costs and the significant devaluation of the naira, making mortgages increasingly inaccessible. The challenging economic climate has priced many potential homeowners out of the market, favoring the flexibility of renting. High interest rates and limited mortgage options further exacerbate the issue, hindering access to home financing. Experts suggest the trend reflects a broader affordability crisis within Nigeria’s real estate sector. This situation poses concerns about long-term housing security for citizens and the overall health of the property market.