Effect of insurgency on Kaduna property business




Kaduna state as a centre of learning has been experiencing gradual return to normalcy in property market occasioned by economic meltdown as a result of the deadly COVID-19 pandemic which grounded our economy and hit the property market to the point that people are no longer capable of paying rent, not to talk of purchasing landed properties throughout this pandemic period.

The emergence of insurgency and frequent kidnapping in the state have further crippled the property market especially in areas like Kujuma, Chukun, Gonigora, Kakau, Rigasa, and Zaria city. The situation also affected the entertainment industry, like cinemas, hotels and clubs as they were made to close down business for months. Also affected are places of worship, markets and joints. Property owners within the aforementioned areas are forced to vacate their beautiful houses for safety reasons. Some had to rent smaller apartments in safer areas like Barnawa, Narayi, Sabo, CBD at costlier rates, while the few tenants left within the areas are not willing to pay rent, hiding under the cover of insurgency.

Those who even manage to pay do it in piecemeal and not even at current rate. Hotels and schools within the areas remain under lock and key. Plazas are just at their 10% occupancy rate. Vacant buildings are common in these areas. Shops and offices are also affected, resulting in increase in death rate, youth violence/thuggery and other social vices; businesses are closed down.

It is a sad reality that nsurgency has really crashed down property market in Kaduna metropolis.

ESV Patrick Aminu

Aminu & Partners,

Estate Surveyors & Valuers,

M1, Ahmadu Bello Way,

Ibrahim Taiwo Road,

Kaduna.

No tags for this post.