A Nigerian company is taking a unique approach to addressing the housing affordability shortage facing its nation – it is hosting lotteries where the winners are awarded fully constructed homes.
The start-up Ticket to Home created an online lottery platform where contestants can purchase tickets for approximately $1.25. Ticket to Home will partner with developers to offer homes in desirable locations and pledged that the homes to be awarded will be ready for immediate move-in. In addition, a portion of the proceeds from each lottery round will be donated to housing-related charities.
The company added the online lottery system is transparent and drawings will take place at regular intervals, with the winners being announced publicly.
“Our goal is to make homeownership more inclusive, offering people from different economic backgrounds the chance to own a home,” said Abi Fawehinmi-Odusan, the company’s director. “We’re leveraging the power of technology to break down these barriers, and the lottery format adds an element of excitement to what is otherwise a difficult process for many.”
Photo of Lagos, Nigeria, courtesy of OpenUpEd / Wikimedia Commons
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