Department of Estate Management

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Browsing Department of Estate Management by Subject "Affordability"

Now showing 1 - 3 of 3
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    Open Access
    Affordable Housing Delivery in Nigeria: Strategic Direction for Federal Authority and State Housing Corporations.
    (Housing Today. Journal of Association of Housing Corporations in Nigeria (AHCN). Town Planning Way, Ilupeju-Lagos, Nigeria., 2009-05) Nubi, T.G.; Abiodun, Y.
    Housing remains one of the basic needs of man. Its supply both in quantity and quality had been a major concern to most people in most places at different times in human history. Unfortunately, as urbanization and globalization deepens, so also is the problem of housing getting worse. This paper examines the .current housing problem in Nigeria viz-a-viz post efforts at solving it. The authors worked with the Technical Board of Federal Housing Authority between 2006 and 2007. During the tenure of the Board, efforts were made to put in place a Blue Print towards a sustainable Salable housing delivery in Nigeria in line with the new direction of the Federal Government. It is our belief that the model presented in this paper will go on a long way to resolving the nation's housing problem. The state Housing Corporations are also encouraged to adopt it at the state 'level to row, a quick spread of the gains of the model across the country.
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    Open Access
    Examining the Factors Contributing to Affordable Housing in Kosofe Local Government Council Area, Laogs, Nigeria
    (Journal of Asian Business Strategy, 2012) Ajibola, M.O; Oluwunmi, A.O; Eguh, O
    The term housing affordability has come into popular usage in the last two decades replacing housing need at the centre of debate about the provision of adequate housing for all. The aim of affordability would be defeated if housing cost becomes burdensome to an individual income in relation to his other needs. This is the reason why the researchers examined the factors contributing to affordable housing in Kosofe Local Government Council Area, Lagos, Nigeria. The study was conducted using questionnaires, administered on randomly selected respondents. A total of 174 copies of the questionnaire were retrieved from the selected respondents in the study area. Both frequency tables and relative importance index (RII) were employed in the analysis of the data collected. The study revealed that the major factors contributing to affordable housing are ease of obtaining finance (RII = 4.48), availability of cheap land (RII = 3.91) and stable economy (RII = 3.84). The study further revealed that the major problems confronting provision of affordable housing in the study area are lack of funds (RII = 3.89), high cost of land (RII = 3.83) and high cost of building materials (RII = 3.30). It is recommended that government should interfere in reducing the cost of land by ensuring equitable marginal distribution of land as well as reduction in the cost of obtaining title to land. It is also recommended that domestic production of building materials should be encouraged so as to increase the construction of houses as well as reduce the cost of construction in the study area.
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    Open Access
    Housing finance between social needs and economic realities: The dilemma of policy transfer under neo-liberalism.
    (Housing finance between social needs and economic realities: The dilemma of policy transfer under neo-liberalism | TU Delft Repository., 2010) Nubi, T.G.; Oyalowo, B.A.
    The aim of this paper is to show how the interplay between social needs and economic realities affects housing policy in developing countries. The paper addresses the very topical issue of housing finance policy for low-income dwellers in rapidly urbanizing African countries. The paper locates housing finance firmly within the neo-liberal development framework being canvassed as the panacea to underdevelopment in these countries and argues that the dilemma facing governments in the current economic downturn is manifested in the realities of decreasing productivity, marginal economic growth, low development and massive urbanization problems versus low-income housing need within the constraints of a neoliberal macro-economic policy. The study adopts a comprehensive content analysis methodology which is based on the review of literatures, the analysis of media accounts of government activities in the housing sector and analysis of official government policy statements. This methodology is applied to housing policy in Nigeria (as a case-study of developing countries) and Britain (as a case-study of developed countries). Findings reveal interesting dimensions of change in institutional and political transformation of housing services in developed and developing countries: while housing finance reforms are generated within the system in developed countries, it is led by international institutions such as IMF and World Bank in developing countries. Thus, while developed countries have responded to the present economic downturn by adopting ‘more government’: direct injections into the housing finance basket, developing countries have exhibited a dilemma –seeking to satisfy legitimate, obvious housing needs and facing the need to conform to neoliberal policies in the hard realities of low productivity and marginal economic growth. The result has been the adoption of an ‘enabling’ toga which is overwhelmingly displayed as reduction of fund injection into low-income housing and a disturbing readiness to appropriate this role to a reluctant private sector. The paper concludes that sectorial policy transfers are incapable of meeting developmental needs when they take place within the context of divergent macroeconomic policies. What is needed therefore are policies that are in tune with local realities, and are flexible and responsive to change. This is best achieved with homegrown policies. However, governments necessarily operate within a comity of nations and therefore have to sign on to global agreements. The challenge for governments here is to localize foreign policies and then mainstream them into indigenous policies and hence ensure that when policy transfer occurs, it is not to the detriment of the people they are meant to serve.