ABSTRACT
For sometimes now, it has been observed that some people dwell in tents while others live in thatched mud houses, some yet live in dilapidated concrete buildings while other chose to live in tenements, bungalows, flats and messiness of varied structural strength and aesthetics.
Also, the size of these structures and their construction materials vary greatly and site differences exist. As a result of these observations, the study was on the housing problems and why these discrepancies exist. The title of the research therefore is “financing of real estate in a democratic society’.
Considering the place of shelter in the life of many provision of housing is supposed to be adequate and supply man’s tastes and descries, bat these days, a lot of uncompleted buildings exist in our village and towns and people live in any available accommodation because they do not have the finance to complete the buildings and live in accommodations of their choice.
TABLES OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Abstract vi
Table of content vii
CHEAPER ONE
1.0 Introduction 1
1.1 Statement of problem 2
1.2 Background of study 3
1.3 Objective of study 4
1.4 Significance of study 5
1.5 Scope and limitation of study 5
1.6 Definition of terms 6
1.7 Research methodology 8
CHAPTER TWO
LITERATURE REVIEW 9
Historical background to housing and
housing finance in Nigeria. 9
2.1 The need and demand for housing in Nigeria. 9
2.2 Participants in the financing of real estate in Nigeria. 21
2.3 The public sector. 21
A. The federal housing authority 22
B. States housing development authority corporation 24
C. The federal mortgage bank of Nigeria 28
D. Insurance companies 38
E. The national provident fund 41
F. Pension funds 44
G. Other financial (commercial banks) 45
2.4 The private sector 46
A. Property development companies 48
2.5 The role of Housing finance in housing development 50
2.6 Sources of real estate finance in Nigeria. 51
A. The traditional sources 52
B. The modern sources 55
2.7 Problems arising from inadequate
financing of real estate in Nigeria. 57
CHAPTER THREE
Enugu State Housing Development Ebeona 60
3.1 Aims and objectives 61
3.2 Functions of he corporation 63
Revenue and Finding of Ebeano Housing Estate Enugu 64
3.3 Loans 66
A. From the government 66
B. From financial institutions 68
CHAPTER FOUR
Housing Development by Eshda 71
4.1 Land acquisition 71
4.2 Perceliation 74
4.3 Development 75
4.4 Housing construction 77
CHAPTER FIVE
5.1 Finding and Recommendations 79
5.2 Recommendation 80
5.3 Conclusion 81
Bibliography 84