The factors that influence the pattern of real estate development in Awka Anambra State

Abstract

: The real estate sector has been growing in leaps and bounds and it has contributed to o the transformation in the built environment without doubt. The rapid increase of the same in terms of its growth within the capital city of Anambra state is also worth taking a cursory look, hence this study; the factors influencing the pattern or choice of real estate development in some selected areas in Awka, the capital city of Anambra State. The findings indicated that some factors responsible for the pattern of real estate development in the study area are; physical features, legal restrictions/Government regulations, existing land use pattern, location/nearness to other residential development, access to infrastructural facilities, distance to employment sources, distance to commerce, access to credit facilities or finance, neighborhood facilities, social/cultural identity or influence/show off of wealth, cost of raw materials, cost of labour and cost of professional services/hiring of expert services. Also, it was discovered that the real estate sector within the Awka capital city is private sector driven, an emerging one and that the state of supporting infrastructure is not commensurate with the pace of real estate development in the study area. The findings indicated there is a significant difference in the pattern of real estate development in the Ziks Avenue and Expressway of Awka metropolis. It is hereby recommended that stakeholders should play close attention to the factors that influences the pattern of real estate development in Awka, Anambra State as doing so will enhance practice.