Advisory Center for Affordable Settlements & Housing

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Document Type General
Publish Date 16/07/2015
Author
Published By Int’l Journal of Advances in Chemical Engg., & Biological Sciences
Edited By Tabassum Rahmani
Uncategorized

Performance of Private Developers in Housing

In Nigeria today the dream of an average man is to be a homeowner. The various tiers of the Nigerian government have put in place different policies and programs with the aim of achieving the vision of 2020. The Nigerian population is fast increasing daily and there is the physical expansion of the cities within. This study intends to appraise the activities of private developers in housing provision in Nigeria using REDAN as a case study and to examine a sustainable approach of providing houses to people by private developers. The constraints limiting the performance of private developers would also be reviewed. To achieve this questionnaire would be administered to 250 developers while 220 were retrieved.

Findings have revealed that incentives have not been well received by private developers through the government. Policies on the ground are also not favorable to the private developers, especially on funding. Despite all the constraints findings have revealed that private developers have proven to be a vital tool to housing development for housing needs in Nigeria today. It is therefore recommended that there must be macro stability in inflation and interest rates so that investors could build confidence in the economy. Housing laws to be passed or enacted must take into consideration the private developers.

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