A Review of Studies on Real Estate Investment Performance in Nigeria

2021 ◽  
Vol 15 (2) ◽  
pp. 16-31
Author(s):  
Yusuf Halim Agava ◽  
Nurudeen Akinsola Bello ◽  
Omolola Elizabeth Dairo
Keyword(s):  
Real Estate ◽  
Performance Measurement ◽  
Measurement Techniques ◽  
Research Area ◽  
Theory And Practice ◽  
Research Trend ◽  
Property Market ◽  
Real Estate Investment ◽  
Investment Performance ◽  
Southwest Nigeria

This study has been conducted to review the studies conducted on property investment performance in Nigeria with the aim of providing a clear insight into the trend, authors’ affiliations, performance measurement techniques and the geographical focus of these studies. Published and unpublished research works in this research area were sourced and reviewed. The data and information used were sourced from online databases such as Google, Google Scholar, ScienceDirect, ProQuest, and ResearchGate. Printed journals (local and international), published and unpublished Masters and PhD theses were also among the sources of the data used. Descriptive statistics were used to analyse the authors’ contributions, affiliations, geographical focus and the annual research trend of real estate investment performance in Nigeria and the results reported. The study found that the first study conducted on the performance of real estate investment was Olaleye (2000) followed by Olaleye (2002). Olaleye, A., Oyewole, M. O. and Dabara, D. I. were found to be the most active and leading researchers on this research area with contributory scores of 3.87, 3.61 and 3.21 respectively. On the average, about 2 studies on the subject were carried out annually with focus majorly on the Lagos property market, Southwest Nigeria. The review further revealed that nominal rate of returns, Sharpe index and coefficient of variation were the common performance measurement indices often adopted by majority of the previous authors. This study recommends that collaborative effort should be established among scholars of estate management and practicing estate surveyors and valuers with a view to bridging the gap between theory and practice and boosting property data banking in Nigeria. The geographical scope of real estate investment performance in Nigeria needs to be expanded to adequately cover all the regional property markets.

Spatial Deployment of the Chinese Property Market (2010–2016)

2019 ◽  
Vol 55 (03) ◽  
pp. 1950006
Author(s):  
ELFIE SWERTS
Keyword(s):  
Real Estate ◽  
Direct Investment ◽  
Multinational Firms ◽  
Spatial Location ◽  
Real Estate Market ◽  
Property Market ◽  
Real Estate Investment ◽  
The Real Estate ◽  
Real Estate Sector ◽  
New Perspective

Real estate activities and companies in China have grown considerably since the major reforms of the late 1970s. This paper examines the spatial deployment of firms linked to the Chinese real estate market in Chinese cities in 2010, 2013 and 2016. It provides a first mapping of multinational firms specialized in the real estate sector. It describes the patterns of ownership networks built by financial links both between foreign multinational firms and Chinese firms and among multinational firms themselves. It therefore provides a new understanding about the penetration of both foreign direct investment (FDI) and Hong Kong’s role in the Chinese real estate market. This paper provides a comparison of the spatial location logics of these firms according to their Chinese or foreign origin and offers a new perspective on the geography of real estate investment by analyzing financial links between the Chinese and foreign cities involved.

Investment — assessing a manager's skill and monitoring the risks

1994 ◽  
Vol 121 (1) ◽  
pp. 69-117
Author(s):  
N. Day ◽  
S. J. Green ◽  
J. Plymen
Keyword(s):  
Performance Measurement ◽  
Performance Monitoring ◽  
Measurement Techniques ◽  
Value Added ◽  
Investment Performance ◽  
Manager Skill

AbstractThe paper proposes a new way of assessing an investment manager's skill in the day-to-day management of portfolios. The authors argue that traditional investment performance measurement techniques, whilst appropriate for many purposes, do not provide the insights necessary to judge the skill of investment managers. To judge manager skill, it is necessary to consider the activity within the portfolio in terms of the purchases, sales and trades, and to determine the value added by that activity. The paper sets out a framework by which this analysis can be carried out and, by means of examples, indicates how the results can be interpreted. The paper also explores briefly a number of other issues such as the qualitative aspects of performance monitoring. In writing the paper, the concept of risk in various guises was never far from the authors' minds, and it is true to say that the meaning of risk in the context of assessing manager skill lies at the very heart of the paper.

scholarly journals The effect of quality market research on the performance / profitability of real estate investment in emerging economies

2020 ◽  
Vol 8 (3) ◽  
pp. 139
Author(s):  
Nworah Joseph Chukwuma
Keyword(s):  
Real Estate ◽  
Market Research ◽  
Developing Economies ◽  
Emerging Market ◽  
Investment Decisions ◽  
Real Estate Market ◽  
Research Report ◽  
Real Estate Investment ◽  
Investment Performance

The ever increasing global competition among real estate investment organizations has it made imperative for industry players to continually invest in real estate market research to guide them in investment decisions. The quality of market research report provided by the market research professional/consultant is expected to reflect on the quality of outcome of investment decisions made by the investors ad invariably affects the marketability and profitability of the investment concerned. This study investigates the effect of quality market research on the marketability and profitability of real estate investment in developing economies taking Lagos-Nigeria, as case study. The study area is Lagos metropolis, southwestern Nigeria, chosen because of its strategic relevance in real estate investment, as emerging market. Research design is cross-sectional type which is descriptive and the study population consists of respondents who are real estate research consultants and real estate investors in the study area. Random sampling technique was applied and research instrument was closed and open-ended structured questionnaire and face-to interviews for the primary data; and Journals, textbooks, published articles and internet for secondary data. Data collected was analyzed using simple descriptive and statistical tools such as frequency distribution tables, charts, percentages, mean scores, pearson correlation, Analysis of variance (ANOVA) as well as Likert scale. The summary of the result of the data analysis shows that market research contributes immensely to the Property Investment Performance in major indices. The result also established healthy relationship between the quality of market research and real estate investment performance showing that the correlation coefficient of 0.240 significant at 10% level. Subsequently, the study recommended among other things, the establishment of data bank for all real estate performance indices; and real estate market research institute by the Federal Government of Nigeria.

scholarly journals Rating in the Assessment of Investment Property

2014 ◽  
Vol 22 (2) ◽  
pp. 98-107
Author(s):  
Katarzyna Śmietana ◽  
Jan Konowalczuk ◽  
Anna Maszczyk
Keyword(s):  
Real Estate ◽  
Investment Decision ◽  
Essential Element ◽  
Cash Flows ◽  
Property Market ◽  
Real Estate Investment ◽  
The Real Estate ◽  
Investment Decision Making ◽  
Market Location ◽  
Decision Making Processes

Abstract The implementation of rating procedures is associated with searching for tools that provide an objective and standardized assessment of investment risk. For this reason, rating is an important and often essential element of investment decision-making processes which determines the development of the capital market, including the real estate investment market. In the investment property market, not only does rating provide transparency of property risk, but it can also be used for real estate portfolio analysis, investment controlling, and the analysis of factors determining investment decisions (ESV 2012). In this article, the authors present an assessment of the suitability of the rating recommended by TEGoVA for properties considered as active investments, namely properties in the course of development and intended for future development projects. The analysis will include criteria affecting the assessment of property quality and risk, taking into account four classes: market, location, property characteristics, and the quality of cash flows. The study will allow to identify assessment parameters and determine a recommended scope for the analysis of real estate investment potential.

scholarly journals The Australian Residential Property Market: A Study on Foreign Real Estate Investment

10.29007/lb9p ◽  
2018 ◽  
Author(s):  
Peng Wong ◽  
Ron Wakefield
Keyword(s):  
Real Estate ◽  
Foreign Investment ◽  
Global Financial Crisis ◽  
Market Performance ◽  
House Price ◽  
Asia Pacific ◽  
Residential Property ◽  
Property Market ◽  
Real Estate Investment ◽  
The Relationship

This research focuses on determining the significance of foreign investment in the Australian residential property market subsequent to the Global Financial Crisis 2008. Quantitative models built on secondary data were tested on two residential property markets comprising Metropolitan Melbourne and a key suburb in the Victoria State, Australia. The relationship between the house price performances and various leading offshore and local Australian economic indicators were assessed. As a result of the increasing relevance of globalisation and Asia Pacific private wealth in the Australia, foreign real estate investment has impacted significantly the Melbourne residential property market performance. The result of this study provides a better understanding on the relationship between the Australian residential property market performance and the emerging significance of the foreign investment drivers. A better understanding of these foreign investment determinants will assist policy makers to effectively manage the Australian residential property market without compromising the steady flow of foreign real estate investment. The result of this study is believed to yield findings that can assist the researcher, property market operators and investors in the evaluation of foreign investments in the Australia residential housing market.

A Novel Assessment Algorithm Based on Grey AHP

2010 ◽  
Vol 26-28 ◽  
pp. 269-272
Author(s):  
Yan Cang Li ◽  
Juan Juan Suo ◽  
Shu Jing Zhou
Keyword(s):  
Real Estate ◽  
Theory And Practice ◽  
Assessment System ◽  
Statistic Analysis ◽  
Investment Management ◽  
Real Estate Investment ◽  
The Real ◽  
The Real Estate ◽  
Investment Evaluation ◽  
Hierarchical Assessment

In order to find a more effective method for real estate investment evaluation, the grey AHP is applied and hierarchical assessment system is presented. First, the grey-relevant method is employed to evaluate the profit of the investment. During quantifying the qualitative indexes, set-valued statistic analysis is introduced, which reduces the uncertainty of the real estate investment assessment. A case shows that the method is feasible and valid. This study has significance in theory and practice for the real estate investment management.

Impediments to foreign real estate investment in an emerging market

2018 ◽  
Vol 36 (5) ◽  
pp. 479-494 ◽  
Author(s):  
Daramola Thompson Olapade ◽  
Timothy Oluwafemi Ayodele ◽  
Abel Olaleye
Keyword(s):  
Real Estate ◽  
Computer Literacy ◽  
Emerging Market ◽  
Primary Data ◽  
Property Market ◽  
Real Estate Investment ◽  
Content Type ◽  
Transaction Structure ◽  
Significant Difference ◽  
Market Transaction

Purpose The purpose of this paper is to examine the of characteristics of Lagos, Nigeria property market and its submarkets on the prism of the market practitioners’ characteristics, market transaction structure and market maturity. This is done with a view to provide information capable of improving the flow of foreign real estate investment to the Lagos property market. Design/methodology/approach Primary data were sourced through questionnaire administered on firms of property practitioners in the market. A total of 190 firms were selected using the stratified random sampling technique based on their geographical location. Descriptive statistics and Mann−Whitney U Test were employed for data analysis. Findings The results showed that the Lagos property market was characterised by practitioners whose highest level of education was majorly first degree, and with a mean computer literacy ranking of 3.38 on a five-point Likert scale. Also, major transactions in the market included letting and sales. The market maturity index of the market was 2.95 and therefore adjudged as an emerging market. The analysis also revealed that there was no significant difference in the characteristics of the submarkets. Practical implications The results of the study are capable of enhancing investment decision in the market. Originality/value The study differentiates itself from and adds to the previous studies on market characteristics through an examination of the property market on the prism of the market transaction structure, market practitioners’ characteristics and maturity of the market holistically in the context of an African emerging market.

scholarly journals THE EFFECTS OF MONETARY POLICY ON REAL ESTATE INVESTMENT IN CHINA: A REGIONAL PERSPECTIVE

2014 ◽  
Vol 18 (4) ◽  
pp. 368-379 ◽  
Author(s):  
Yigang Wei ◽  
Patrick T. I. Lam ◽  
Yat Hung Chiang ◽  
Barbara Y. P. Leung
Keyword(s):  
Monetary Policy ◽  
Real Estate ◽  
Regional Differences ◽  
The Other ◽  
Bank Loan ◽  
Property Market ◽  
Real Estate Investment ◽  
Policy Effects ◽  
The Government ◽  
Investment In China

Monetary policy on real estate investment in China has had varying impacts across the country due to regional differences. A supply-determined model is used to measure the policy effects on property investment volume based on a set of regional data from 2003 to 2010. This research yields several important findings contributing to an understanding of uneven policy effects on the unbalanced regional markets. Firstly, it is revealed that the eastern coastal provinces in China have a higher dependence on bank loans for housing investment than that of the other inland provinces. Secondly, this research has disentangled the specific transmission channels of monetary policy in the property market. Bank loan supply, instead of interest rates, would be a potentially effective policy tool for the government in making property market adjustment. Thirdly, the eastern coastal provinces are more sensitive in their responses to the changes of monetary stances than the other non-coastal central and western provinces. Therefore, the government must take note of the significant heterogeneity arising from the regional differences in estimating the policy impacts, although monetary policy is uniformly employed in the nation most of the time.

scholarly journals The Effect of Quality Market Research on the Marketability and Profitability of Real Estate Investment in Emerging Economies

2019 ◽  
Vol 2 (2) ◽  
Keyword(s):  
Real Estate ◽  
Market Research ◽  
Developing Economies ◽  
Emerging Market ◽  
Investment Decisions ◽  
Real Estate Market ◽  
Research Report ◽  
Real Estate Investment ◽  
Investment Performance

The ever increasing global competition among real estate investment organizations has it made imperative for industry players to continually invest in real estate market research to guide them in investment decisions. The quality of market research report provided by the market research professional/consultant is expected to reflect on the quality of outcome of investment decisions made by the investors ad invariably affects the marketability and profitability of the investment concerned. This study investigates the effect of quality market research on the marketability and profitability of real estate investment in developing economies taking Lagos-Nigeria, as case study. The study area is Lagos metropolis, southwestern Nigeria, chosen because of its strategic relevance in real estate investment, as emerging market. Research design is cross-sectional type which is descriptive and the study population consists of respondents who are real estate research consultants and real estate investors in the study area. Random sampling technique was applied and research instrument was closed and open-ended structured questionnaire and face-to interviews for the primary data; and Journals, textbooks, published articles and internet for secondary data. Data collected was analyzed using simple descriptive and statistical tools such as frequency distribution tables, charts, percentages, mean scores, pearson correlation, Analysis of variance (ANOVA) as well as Likert scale. The summary of the result of the data analysis shows that market research contributes immensely to the Property Investment Performance in major indices. The result also established healthy relationship between the quality of market research and real estate investment performance showing that the correlation coefficient of 0.240 significant at 10% level. Subsequently, the study recommended among other things, the establishment of data bank for all real estate performance indices; and real estate market research institute by the Federal Government of Nigeria.

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