Journal of Emerging Trends in Economics and Management Sciences: Home

Abstract:
This paper was designed to investigate and examine the critical constraints to real property investment in Nigeria. The study covers individual investors and practicing firms of the Nigerian Institutes of Estate Surveyors and Valuers in the country using convenient sampling method to obtain information from the respondents. Well-structured questionnaire was designed to elicit information on critical constraints to the way investors invest now in property in the country. Mean item score and regression analysis were the statistical tools used to isolate the critical factors. At the end of the regression analysis five out of fifteen factors isolated to be important at the mean item stage were found to be critical to property investment decisions by the investors. These are high cost of building materials, ownership issues- Omoonile factor, scarcity of development funds, liquidity and ease of getting the property registered with the government. The study recommends that legal system should be institutionalized to checkmate the activities of the Omoonile and also the investment climate and market environment be made conducive. Government should ease up the process and procedures involved in properties registration in the country.

Keywords: property investment, real property, constraints, investors, Nigeria

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