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An Assessment of Challenges and Prospect of Real Estate Development in Nigeria

Author

Listed:
  • Onore Kehinde Onore

Abstract

The focus of this study is to analyze the problems that are related with genuine property development finance in Nigeria. The study endeavors to investigate the different wellsprings of finance that are accessible for genuine property development with the end goal of deciding the problems that hamper successful progression of asset. To accomplish this, some estate reviewing and valuation firms in Abuja that participate in genuine property development, a few financial foundations that store property development and a few designers were inspected using polls to recognize a portion of the problems that defy land development with regards to fundings. Straightforward enlightening factual strategies were utilized for the examination and show of the information. The study shows plainly those problems going from exorbitant loan costs to that of the various necessities from candidates for loan, which by and large they see as challenging to meet, bothered the supporting of genuine properties in Nigeria. Furthermore, the inflationary rate in the nation additionally adds to the problems of supporting genuine property development in Nigeria. It suggested among others that the Nigerian government ought to attempt to take care of its monetary problems, for example, expansion to limit the problems that plague the funding of land development.

Suggested Citation

  • Onore Kehinde Onore, 2023. "An Assessment of Challenges and Prospect of Real Estate Development in Nigeria," AfRES afres2023-045, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2023-045
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    More about this item

    Keywords

    Finance Development; Inflation; Problems; real property;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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