Barriers to Sustainable Property Development in Lagos Metropolis
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Olanipekun T. A., Department of Estate Management and Valuation, School of Environmental Studies, Yaba College of Technology, Yaba, Lagos, Nigeria.
The paper investigated the barriers to sustainable property development in Lagos Metropolis. 310 questionnaires were administered in all, some to registered professionals in built environment and others to member of Real Estate Developer Association of Nigeria (REDAN) based in Lagos of which 74.19% were retrieved and descriptive statistical tool was used to analyse data collected. It was discovered that professionals lack requisite educational knowledge in sustainable property development and it was not part of the curriculum while acquiring knowledge in higher institution. Finance was a major barrier to real estate developers in the study area and the fact that there is lack of demand on the part of occupier for sustainable property. The paper recommended that professionals in the built environment should take refresher courses on sustainable property development and that Institution of higher learning should include sustainable property development in their course curriculum.Government and financial institution can come up with a special loan arrangement for developers that are willing to embark sustainable property development.
Barriers, Sustainable, Property Development and Sustainable Property Development
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