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Article
Publication date: 18 June 2018

Chioma Oluwaseun Abere, Olusegun Adebayo Ogunba and Terzungwe Timothy Dugeri

Studies on the maturity status of Sub-Saharan African property markets are scanty. The absence of such studies appear to have made African property markets – such as the Nigerian…

Abstract

Purpose

Studies on the maturity status of Sub-Saharan African property markets are scanty. The absence of such studies appear to have made African property markets – such as the Nigerian market – unattractive to foreign investors who require market information to assess the viability of proposed investments. The purpose of this paper is to explore the maturity status of selected city property markets in Southwestern Nigeria (i.e. markets in the capital cities of Lagos, Ibadan and Osogbo), with a view to providing information for enhanced property investment in Africa.

Design/methodology/approach

The study adopted and expanded on property market maturity paradigms suggested by Keogh and D’Arcy (1994), Akinbogun et al. (2014) and Jones Lang LaSalle (2014) to measure the maturity status of the property markets in the Nigerian cities. The study investigated the maturity of three markets in Nigeria by scoring the stated views of a range of stakeholders (estate surveyors and valuers, public land administrators and financiers represented by commercial banks) across a range of ten indicators. The responses were classified by means of a five-point classification scale which expanded on the initial four-point scale developed by Dugeri (2011).

Findings

The three property markets were found to exhibit varying maturity characteristics (with weighted mean scores of 3.07, 2.71 and 2.51, respectively), representing emerging and immature stages of evolution on the maturity path. These results suggest that there is a correlation between the tier of the market and the level of property market maturity.

Practical implications

The study concluded that first- and second-tier city property markets have emerged sufficiently to the point where they may safely attract foreign direct and indirect investment from courageous foreign investors. However, the state governments and real estate professional regulatory bodies in the second and third markets need to undertake substantial remodeling of market structures to make them attractive to international investors.

Originality/value

The value of the paper is in providing much needed information for enhanced property investment in Africa.

Details

Property Management, vol. 36 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 18 July 2024

Augustina Chiwuzie, Dabara Ibrahim Daniel, Olusegun Adebayo Ogunba and Jonas Hahn

Workspace equality and inclusivity remain critical in promoting diversity and dynamism across all sectors of the economy. Despite recent progress, gender disparities persist in…

Abstract

Purpose

Workspace equality and inclusivity remain critical in promoting diversity and dynamism across all sectors of the economy. Despite recent progress, gender disparities persist in the real estate sector, including education and training programmes. This study employs a quantitative research design to assess gender diversity of real estate education at Federal Polytechnic Ede in Nigeria. The study focuses on female students' enrolment in real estate programmes, their experiences, perceptions and any potential effect on real estate career prospects.

Design/methodology/approach

A self-administered questionnaire was used to collect data from 138 out of all the 150 female students currently enrolled in the real estate programmes. Descriptive statistics and a one-sample t-test were utilised for the data analysis.

Findings

The findings indicate an increased number of females enrolled in real estate programmes. Female students face a lack of access to mentorship opportunities and perceive gender discrimination and bias in the real estate industry. However, these industry factors would not deter female students' decision to pursue a career in the real estate industry after graduation.

Originality/value

This study to the best knowledge of the researchers is the first to investigate gender dimensions of real estate programmes in the context of African higher education institutions; thereby contributing to the body of knowledge on gender diversity in this field.

Details

Property Management, vol. 43 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 30 September 2020

Oluwaseun Chioma Abere, Olusegun Adebayo Ogunba and Terzengwe Timothy Dugeri

The study investigated the factors influencing maturity levels in the Nigerian property market particularly southwestern Nigeria in sub-Saharan Africa. There is a need to identify…

Abstract

Purpose

The study investigated the factors influencing maturity levels in the Nigerian property market particularly southwestern Nigeria in sub-Saharan Africa. There is a need to identify the factors responsible for the less notable progress in the market in order to proffer measures that will enhance the property market or attract both local and international real estate investors.

Design/methodology/approach

The method of data analysis adopted is weighted mean scores. The study sampled estate surveyors, public land administrators and financier, which are represented by the commercial bank. The respondents were presented a list of 40 factors and asked to rank them on a seven-point Likert scale. In order to reduce the variables responsible for the maturity levels into a few factors, factor analysis was employed.

Findings

The factors identified by respondents as the most responsible for the maturity levels observed (those with the highest weighted mean score of 6.52, 6.35 and 6.31) include government policy on interest rate, safety of property right/titles and insufficient property market information. Using factor analysis, the variables were further grouped into six factors namely monetary policy, property right registration, property professionalism, investor friendliness, property data and economic factors.

Practical implications

On the basis of findings, the study recommends that the government should create an enabling environment for prospective investors/or property owners by taking measures that will improve the ease of doing business at same time enhance the foreign real estate investment. The government should pass enabling legislation that will make real estate financing a feature of the capital market. The Central Bank of Nigeria can help in managing the rate of inflation in order to reduce the cost of the construction materials so that average Nigerian can be able to own property asset. Prominent real estate firms should in conjunction with The Nigeria Institution of Estate Surveyors and Valuers develop property data bank on market fundamentals, e.g. rental/capital values, yields, construction cost indices, etc.

Originality/value

The paper provided the information on the factors that will enhance property maturity levels in southwestern Nigeria.

Details

Property Management, vol. 39 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 15 March 2022

Deborah Monisola Olawuni, Ayodele Samuel Adegoke, Olusegun Adebayo Ogunba, Job Taiwo Gbadegesin, Deborah Odunayo Balogun and Ibukunola Victoria Omogbehinwa

The Land Use Act of 1978 is a promoter of land occupation regardless of gender. However, the marginalisation of women in the occupation of land remains a serious concern. Hence…

Abstract

Purpose

The Land Use Act of 1978 is a promoter of land occupation regardless of gender. However, the marginalisation of women in the occupation of land remains a serious concern. Hence, this study explored the inhibitors to women's right to occupy land in the Ajebamidele Community in Ile-Ife with a view to supporting the need for the proper implementation of land regulations.

Design/methodology/approach

The data for the study were elicited from 13 women who were purposively selected. With the aid of Atlas.ti software, the study took a phenomenological approach to the analysis of the data obtained during structured interviews with the respondents.

Findings

The results revealed the factors inhibiting women's right to occupy land were unavailability of finance, education status/awareness, intrapersonal factor, custom and tradition, mode of acquisition and socio-economic characteristics.

Practical implications

Like their male counterparts, the role that women play in national development are significant. As such, the findings of this study will assist the government in the formulation of policy for the proper implementation of the current land policies and regulations.

Originality/value

Only a few attempts have been made to study the inhibitors to women's right to occupy land using the qualitative approach in emerging economies.

Details

Property Management, vol. 40 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

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