I don't know about other cities, but here in owerri there's a bad trend that developers and landlords should take note of.

There's an upsurge in the number of yahoo boys. Whenever they pick money, they spend extravagantly. They look for virgin house with luxury finishing to rent. Consequently, in a bid to take advantage of this, developers and landlords now build their houses to meet this standards. After their first rent, most of them are not able to renew the exhorbitant rent. They list their properties for sale why landlord recover their property from them.

Now the problem is, average tenants are not able to rent those properties at such high prices and most yahoo boys don't rent apartments that have been previously used by another person; they look for virgin houses. So we have a situation where there are so many good vacant flats while many people are searching for accomodations. But they can't afford them.

In my opinion, targeting high paying tenants alone is not a good business decision especially tenants with irregular and unpredictable sources of income.

There's acute scarcity of affordable residential houses whereas there are many vacant apartments. Why you build for yahoo boys who can hardly renew their rent, also build for average income earners.