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Sustainable Real Estate Development and Mortgage: Economic Viability and Market Demand in Enugu Metropolis

Author

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  • Ezebuilo Ann Adaeze

    (Institute of Management and Technology, Enugu, Nigeria)

  • Stanley Chika Nwaogu

    (Department of Estate Management, University of Nigeria, Enugu Campus, Enugu, Nigeria)

  • Ayogu Ikechukwu Okoafor

    (Institute of Management and Technology, Enugu, Nigeria)

Abstract

Real estate is a crucial component of many economies, serving as a driver of economic activity and providing business and social infrastructure. It is an indicator of a nation’s viability and sustainability, reflecting its poverty level. However, the role of real estate in driving economic growth is not fully appreciated in developing economies, including Nigeria. Nigeria’s competitiveness in the global real estate market makes the country increasingly attractive to investors. This study aimed to examine the effect of economic viability on sustainable real estate development and mortgage in Enugu Metropolis and the impact of market demand on sustainable real estate development and mortgage in the region. The study used qualitative techniques to collect data from Professional Project Managers from various construction firms across Enugu Metropolis. The findings revealed that Economic Viability in Enugu Metropolis (EVEM) has a positive and significant impact on sustainable real estate development and mortgage in the region. This suggests that it is essential to conduct economic viability before embarking on real estate development to provide informed background information and recommend projects with high profits. The study also highlighted the importance of market demand in influencing sustainable real estate development and mortgage in the region.

Suggested Citation

  • Ezebuilo Ann Adaeze & Stanley Chika Nwaogu & Ayogu Ikechukwu Okoafor, 2024. "Sustainable Real Estate Development and Mortgage: Economic Viability and Market Demand in Enugu Metropolis," International Journal of Research and Innovation in Applied Science, International Journal of Research and Innovation in Applied Science (IJRIAS), vol. 9(12), pages 499-507, December.
    • Handle: RePEc:bjf:journl:v:9:y:2024:i:12:p:499-507
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