Nigerian startup Landhouse has launched a platform that allows for the crowdfunding of property development, allowing users to build their own houses and take stakes in other properties.
Founded last month by Nwosu Friday after he closed his agri-tech startup Yesharvest, Landhouse allows Nigerians to crowd-invest in new developments, allowing them to pay over time.
“We will make this possible through joint venture with landowners, by equally distributing both the land and construction costs among the apartment owners in the building, and letting them pay on a milestone basis over the construction period,” Friday told Disrupt Africa.
“It’s like carpooling, but for home ownership. It reduces each person’s cost of owning a home, reduces the stress of getting permits and building, reduces commute time, and maximises available land space.”
The aim of Landhouse is to solve the affordable housing deficit in Nigeria, with the self-funded startup already collecting subscribers for the first construction, which will begin in December.