The factors that influence the pattern of real estate development in Awka Anambra State
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Date
2021-12
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Research and Scientific Innovation (IJRSI)
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.
Description
Keywords
Commercial, Development, Property, Real estate,, Residential