With increasing globalization of investments in recent years, it is becoming more important for investors to have better understanding of the Nigerian Property Markets. This paper aims to explore perceptions of market maturity and issues of importance for investment in the property markets. Maturity is a key concept in investors' decision making as it takes into account the nature and evolution of the markets as well as their economic, social and institutional condition. Interview guide and questionnaire was used to elicit information from Estate Surveyors and Valuers, real estate financiers and real estate investors. The information collated shows that Nigeria Property Market is highly immature due to unsound financial and economic structure, strength and stability of the economy, market openness, low level of professionalism, lack of information availability and standardization and culture. The paper therefore recommends that government should develop a workable framework and environment to improve on existing data.
This research assessed and compared the delivery of facilities management services in public high rise residential buildings in Lagos, Nigeria. The objectives include the examination of service delivery method, assessment of the quality of service and determination of resident's satisfaction of the FM services. The methodology adopted is quantitative research and data were collected with use of questionnaire. The response options to the questions were ranked using the 5-point Likert scale. A total of 111 questionnaires were served in the two case studies. However, only 84 were retrieved, 57 from Eko Court and 27 from Boyle Street. Cumulatively 75.67% of the questionnaires were filled and retuned. The study finds that most of the services expected in high rise buildings are available in the case studies and the services are outsourced. The residents of the estates are relatively satisfied with the quality of service they are being provided with. However, the Eko Court residents exhibited a higher level of satisfaction. This infers that the quality of services provided in Eko Court is relatively better than what is obtainable in Boyle Street. The difference in level of satisfaction between the two estates is attributed to location and social class of people residing in the estates. The expectation of the residents with regards to each service is also a factor. The study recommends improved standardization of services, customized services and management of customer's expectation as ways of improving service delivery.
This study investigates developers’ land acquisition and housing developments to assess factors that influence utilisation of the acquired land for housing development and strategic approaches that could drive mass housing developments. A sample of 141 members of the Real Estate Developers Association of Nigeria (REDAN) and 31 heads of units in the Land Bureau were surveyed. Weighted mean score and factor analysis were used to identify the barriers limiting housing developments and strategies that could enhance developers' housing initiatives. Findings revealed that the total number of housing units developed is insignificant in the study location, and eight groups of barriers were identified by developers as limiting their housing initiatives. Weak land institutional frameworks and inconsistency in government regulations and policy were recurring themes. These barriers are germane to housing development in the urban fringe of a growing African mega-city that needs 500,000 new housing units annually for the next 10 years to bridge the housing gap. The study recommends an efficient land reform framework to remove policies and regulations that impede timely land documentation, administration and housing development and to include developers through cooperative ventures.
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