Barriers to accessing mortgages in Nigeria’s housing markets

2018 ◽  
Vol 11 (4) ◽  
pp. 716-733
Author(s):  
Chukwuma C. Nwuba ◽  
Eunice Oluwakemi Chukwuma-Nwuba

PurposeThe purpose of this study is to investigate barriers to accessing mortgages in Nigeria’s urban housing markets with the main focus on Kaduna State. The objective was to establish the diverse factors that constitute barriers to urban households’ access to mortgages for homeownership from the perceptions of households, mortgage lenders and the Federal Mortgage Bank of Nigeria.Design/methodology/approachThe study used cross-sectional survey with triangulation of results. To enable the triangulation, three new samples were developed from 450 surveys with households and 10 completed by lenders, both in Kaduna State and one survey undertaken by the Federal Mortgage Bank of Nigeria. Data were collected with questionnaires designed on five-point Likert model. Data analysis utilized descriptive statistics and one-samplet-test. Triangulation enabled cross-validation of the results.FindingsThe barriers include low incomes and savings which constrain households’ ability to pay mortgage instalments and deposits, respectively, high interest rates, poor access to land, inability of potential borrowers to provide certificates of occupancy on their land, inadequate loanable funds and inadequate number of mortgage lending institutions.Practical implicationsThe study has the potential to provide a basis for mortgage market reforms. Mortgage market reforms should be encompassing because it requires action in some other sectors.Social implicationsThe social implication of the study is the possibility of motivating actions to deal with the diverse barriers to accessing mortgages which have constituted deterrents to households from realizing their homeownership aspirations and enjoying the benefits of homeownership and consequently contributing to inadequate housing and poor living conditions.Originality/valueThe study provides distinctive insight into Nigeria’s mortgage market by integrating the views of various stakeholders on a subject of social and economic significance. It contributes to the evidence-base around mortgage market reforms in Nigeria.

2019 ◽  
Vol 12 (1) ◽  
pp. 59-73 ◽  
Author(s):  
Anthony Owusu-Ansah ◽  
Kenneth W. Soyeh ◽  
Paul K. Asabere

Purpose This study aims to document the major underlying forces prohibiting housing development in urban Ghana. Previous studies in Ghana have not empirically examined these constraints, but an empirical examination of these factors would help to formulate proper policies to address the housing shortage problems in Ghana. This paper fills this gap. Design/methodology/approach Using a purposive sampling technique, the authors surveyed the chief executive officers (CEOs) of private real estate development companies within Accra and Tema with a Likert scale questionnaire to measure the severity of the factors hindering housing development in these areas. Findings The results show that real estate developers consider the supply problems in housing to be driven mainly by formal and informal institutional factors. A large percentage of the CEOs reported that land tenure arrangements, lengthy procedure involved in securing building permits and process of land acquisition and registration in Ghana were the major factors that significantly affected housing supply. The difficulty in accessing development funds, underdeveloped mortgage market and high interest rates were some of the market-based factors constraining housing development. Originality/value This study empirically examines the factors that hinder housing development in Ghana, making a clear distinction between the market and institutional forces. The paper proposes policy recommendations for a more effective and direct government intervention to improve urban housing supply.


2015 ◽  
Vol 8 (2) ◽  
pp. 189-206 ◽  
Author(s):  
Chukwuma Christopher Nwuba ◽  
Iche U. Kalu ◽  
John A. Umeh

Purpose – This paper aims to investigate homeownership affordability in Nigeria’s urban housing market to establish the determinants of households’ affordability outcomes, and the nature of their impact. Design/methodology/approach – The cross-sectional survey design was adopted. Semi-structured questionnaire was used to collect data from a sample of households selected through a stratified random technique across Kaduna State, the study area. The binary logistic regression was used to model the probability of homeownership affordability as a function of specified explanatory variables. Findings – Household income, savings, construction period and education are determinants of homeownership affordability with positive impact. Conversely, household size, cost of land, building cost inflation, current rental housing expenditures, non-housing expenditures and building cost relative to income are determinants of affordability with negative impact. Practical implications – The findings have the potential to provide a framework for formulation of policy measures to improve access to homeownership. Social implications – Delayed access to homeownership places pressure on the rented sector with the potential for rental housing affordability problems. It is a deferment of the actualisation of a strong aspiration which is detrimental to individual and family well-being and stability. Originality/value – The study extends the housing affordability debate to housing markets operating on informal financing where households build rather than buy their homes, an area hitherto not deeply explored. It provides empirical basis for problem-solving on housing affordability and can be a framework for housing policy reforms in Nigeria.


2015 ◽  
Vol 33 (4) ◽  
pp. 367-385 ◽  
Author(s):  
Chukwuma C. Nwuba ◽  
Uche S. Egwuatu ◽  
Babatunde M. Salawu

Purpose – The purpose of this paper is to investigate client influence on mortgage valuation in Nigeria to establish and rank the means of influence clients employ, and the impact of firm characteristics on client influence. Design/methodology/approach – A combination of cross-sectional survey and focus groups research designs was adopted. Questionnaire structured on five-point Likert format was used to collect data from a sample of valuation firms in five Nigerian cities. Descriptive statistics, χ2, and moderated hierarchical linear model were used for data analysis. Findings – Clients’ means of influence on valuation are more of subtle approach than threat or coercion. The most prevalent means are respectively, plea for assistance, promise of continued retainership on banks’ valuer panels, and disclosing the loan amount. Client influence differs across cities; firm characteristics have no influence on client pressure. Practical implications – The research provides basis for valuation bodies to review practice rules and standards and seek for legislation for valuer independence. It can serve as material for teaching and training in professional ethics. Social implications – Biased valuations jeopardises credit risk mitigation process with potential for destabilising banks, finance sector, and consequences for the economy. Originality/value – The study provides empirical evidence of the nature of client influence across several major Nigerian cities. In contrast to existing Nigerian studies that focus on single cities, the study covers several cities. It therefore provides a broad basis for problem-solving and decision-making.


2014 ◽  
Vol 7 (4) ◽  
pp. 586-602 ◽  
Author(s):  
Erkan Oktay ◽  
Abdulkerim Karaaslan ◽  
Ömer Alkan ◽  
Ali Kemal Çelik

Purpose – The main aim of this study is to determine the factors that influence the housing demand of households in Erzurum, northeastern Turkey. Housing demand is generally affected by several factors including housing prices, individuals’ income, expectations and choices and so on, as a means of its demographic and socio-psychological contexts. Design/methodology/approach – A questionnaire-based cross-sectional survey was carried out, in which the outcome variable had binary responses such as whether to invest in housing or not. A binary logistic regression analysis was performed to estimate the underlying data. Findings – The questionnaire was conducted in 2,927 households living in Erzurum city center, and 47 per cent of the respondents claimed that they would consider investing in housing in the future. The estimation results reveal that demographic or socio-economic factors that may possibly influence housing demand of the respondents are as follows: household head’s and spouse’s occupation, monthly income, the number of individuals in the family and car ownership. Originality/value – This paper involves the most comprehensive survey addressing the housing demand in the East Anatolian Region, Turkey. Additionally, this paper aims to contribute to the existing housing literature through establishing the statistical analysis of housing demand in an unstudied territory of the world.


2016 ◽  
Vol 38 (6) ◽  
pp. 886-906 ◽  
Author(s):  
Erling Rasmussen ◽  
Barry Foster ◽  
Deirdre Farr

Purpose The purpose of this paper is to place empirical research on New Zealand employers’ attitudes to collective bargaining and legislative change within the context of the long running debate of flexibility. Design/methodology/approach A cross-sectional survey design using a self-administered postal questionnaire, covering private sector employers with ten or more staff and including employers within all 17 standard industry classification. To explore particular issues, an additional in-depth interviews were conducted of 25 employers participating in the survey. Findings It is found that employers support overwhelmingly recent legislative changes though there are variations across industries and firm sizes. There is also considerable variation in terms of which legislative changes are applied in the workplace. Despite fewer constraints on employer-determined flexibility, there was a rather puzzling finding that most employers still think that employment legislation is even balanced or favouring employees. Originality/value Cross-sectional survey findings of New Zealand employer attitudes to legislative changes are few and provide valuable data for policy makers, unions, employers and employment relations researchers. The paper also contributes to a more comprehensive understanding of pressures to increase employer-determined flexibility in many western countries.


Author(s):  
Alex Anlesinya

Purpose This study examines the factors that hinder employee training and learning in the automotive industry in Ghana, Africa. Design/methodology/approach The study adopts quantitative research methodology and cross-sectional survey design. Eighty-nine usable questionnaires from employees of an automotive organization in Ghana are used. Descriptive statistics and one-sample t-test are used for the analyses. Findings The results indicate that organizational culture, poor management commitment to training, inadequate promotion prospects, and lack of transparency and fairness in trainees’ selection are the most common barriers to employee training and learning. Practical implications Top management should provide opportunities to employees to apply new skills and knowledge they acquired. Fair and transparent procedures should be used to select training beneficiaries. Finally, organizations should develop cultural systems that encourage continuous learning motivation among their employees. Originality/value In this era of knowledge-driven economy, this research highlights factors that inhibit employees’ motivation to learn.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mordecai Chrysostom Matto

Purpose This paper aims to examine the influence of records management on the performance of procurement management units (PMUs) in Tanzania. Design/methodology/approach To meet the objective of the study, cross-sectional survey design and quantitative approaches were used for data collection and analysis. Preliminary analysis of the data was carried out using descriptive statistics and structural equation modelling was then used to analyse the influence of records management standards on procurement performance. The data were collected from 164 government PMUs in Tanzania. Findings The findings revealed that records management attributes significantly affect procurement performance in Tanzania. Furthermore, government policy and integrity factors confound the association between records management and procurement performance. Practical implications The policymakers and practitioners of public procurement are required to be aware of records management principles and how each related factor influences the performance of PMUs. They should emphasise proper storage and housing, equipment, arrangement and access and implement electronic records management. Originality/value This study shows how the ISO 15489 model can be applied to public procurement processes. This study also provides the lesson that procurement records need to be protected to ensure their authenticity, reliability, integrity and useability.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rachael Rief ◽  
Samantha Clinkinbeard

PurposeThe purpose of the study was to examine the relationship between officer perceptions of fit in their organization and stress (organizational and operational), overall job satisfaction and turnover contemplation (within the last 6 months).Design/methodology/approachThe authors used cross-sectional survey data from a sample of 832 officers from two Midwest police departments to examine the relationships between fit, stress and work-related attitudes.FindingsPerceived stress and organizational fit were strong predictors of overall job satisfaction and turnover contemplation; organizational fit accounted for the most variation in stress, satisfaction and turnover contemplation. Organizational stress partially mediated the relationship between organizational fit and job satisfaction and organizational fit and turnover contemplation.Research ImplicationsMore research is needed to identify predictors of organizational fit perceptions among police officers.Practical implicationsFindings indicate that agencies should pay close attention to the organizational culture and structure when trying to address issues of officer well-being and retention. Further, the person−environment framework can be a useful tool in examining police occupational outcomes.Originality/valueThe authors findings contribute to research on officer stress by exploring perceptions of organizational fit as a predictor of stress and unpacking how officer stress matters to important work outcomes, including job satisfaction and thoughts of turnover, by considering stress as a mediator between organizational fit and these work outcomes.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kojo Kakra Twum ◽  
Daniel Ofori ◽  
Gloria Kakrabah-Quarshie Agyapong ◽  
Andrews Agya Yalley

Purpose This study examines the factors influencing intention to vaccinate against COVID-19 in a developing country context using the theory of planned behaviour (TPB) and health belief model (HBM). Design/methodology/approach Through a cross-sectional survey design, the study adopted a quantitative approach to data collection and analysis. The study used an online survey to collect data from 478 respondents eligible to take the COVID-19 vaccine in Ghana. Findings Attitude, social norm, perceived behavioural control, perceived susceptibility and cues to action were found to be predictors of COVID-19 vaccination intention. The results also showed that perceived severity, perceived benefits and perceived barriers did not predict COVID-19 vaccination intention. Practical implications To enhance the effectiveness of COVID-19 social marketing campaigns, social marketing theories such as the TPB and HBM can aid in assessing the intention of the target population to take the vaccines. An assessment of vaccination intention will help understand disease threat perception and behavioural evaluation. The consideration of the effect of demography on vaccination intention will aid in developing effective campaigns to satisfy the needs of segments. Originality/value This study adds to the limited research on understanding citizens’ intention to vaccinate against COVID-19 by combining the TPB and HBM to predict vaccination intention. The study contributes towards the use of social marketing practices to enhance the efficacy of vaccination campaigns.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jodie Louise Stewart ◽  
Karl Kilian Konrad Wiener

Purpose This paper aims to examine the quality of the relationship between a supervisor and their subordinate, conceptualised as leader member exchange (LMX), and the mediating influence of subordinate’s job embeddedness on job satisfaction. The LMX model considered the four-gender dominant leadership style facets, female – affect and loyalty (communal), and male – contribution and professional respect (agentic). Social role theory was applied to explain societies influence on leadership style. The moderating influence of supervisor gender on the relationship of LMX facets and subordinate embeddedness is investigated. Design/methodology/approach This cross-sectional survey study of 213 self-selected employed participants investigated the mediation of job embeddedness LMX and job embeddedness and the moderation impact of supervisor gender on this mediation. Findings Job embeddedness mediated the relationship between all four facets of LMX and job satisfaction. Supervisor gender did not moderate the relationships of the four LMX facets and job embeddedness. These findings highlight the potential impact of a homogeniuos sample in relation to industry type and culture as this may impact on the findings. That is, participants in this study were predominantly females working in female dominant industries. Originality/value This study builds on the work of Collins et al. (2014) who examined the moderating impact of subordinate gender on the mediating relationship of job embeddedness on the relationship between LMX facets and job satisfaction. Previously, the gender role of supervisors on this relationship was not explored.


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