Factors Affecting Real Estate Project Delivery and Housing Affordability in Abuja

Abstract

This study focuses on the factors affecting real estate project delivery and housing affordability in Abuja, Nigeria. The study adopted a purposive sampling technique where 200 questionnaires was distributed to construction professionals and 178 was retrieved and analysed using SPSS. Findings revealed that the most significant factors affecting real estate project delivery are access to land, finance/funding, cost of building materials, high cost of capital, government policies, and high cost of labour. Also, the most significant factors affecting housing affordability in Abuja are cost of land, household income, house rent, housing expenditure, residential property price and housing preference. Hence, to increase housing affordability in Abuja, policymakers and other stakeholders may consider implementing strategies that address the factors identified as significant in the study. For example, measures to reduce the cost of land, such as land-use planning policies, or incentives for developers to build on underutilized land, could help to decrease the overall cost of housing. Similarly, policies that aim to increase household income, such as job training programs, or wage increases, could also help to improve housing affordability by increasing the ability of households to afford housing.