1-bedroom bungalow goes for N8.5m as FG set prices for Renewed Hope Estate buildings

The Federal Government has approved standardised prices for the sale of housing units under its Renewed Hope Estate Programme across all states, according to the Ministry of Housing and Urban Development.

In a statement released in Abuja on Thursday, the ministry’s Director of Press and Public Relations, Mr. Badamasi Haiba, said the decision was aimed at promoting affordability and fairness for eligible Nigerians.

He explained that the housing units — which include one-, two-, and three-bedroom semi-detached bungalows — are part of the government’s broader effort to make homeownership more accessible and equitable.

“The approved selling prices are as follows: One-bedroom semi-detached bungalow: ₦8.5 million; two-bedroom semi-detached bungalow: ₦11.5 million; and three-bedroom semi-detached bungalow: ₦12.5 million,” Haiba stated.

He added, “The adoption of uniform selling prices aims to promote affordability, transparency, and fairness. It will ensure that Nigerians across all regions have equal opportunities to benefit from the Renewed Hope Housing Programme.”

Haiba also noted that the Minister of Housing and Urban Development, Ahmed Dangiwa, had directed that preference in the allocation of homes be given to low- and middle-income earners, civil servants at all levels, and workers in the organised private sector with verifiable income sources. Nigerians in the Diaspora who wish to own homes locally will also be prioritised.

According to the statement, various payment options have been provided to make the houses more affordable and flexible. These include outright payment, mortgage arrangements, rent-to-own schemes, and instalment payment plans.

The ministry said the sale of completed housing units across both Northern and Southern regions will soon begin, while applications can be submitted online via the Renewed Hope Housing portal at www.renewedhopehomes.fmhud.gov.ng, or obtained from the ministry’s headquarters and field offices nationwide.