Title: Assessment of Real Estate Development Financing Models in Lagos State, Nigeria
Authors: Tosin Adebowale Kadiri and Igho Fayomi
Volume: 9
Issue: 9
Pages: 38-50
Publication Date: 2025/09/28
Abstract:
Background: Financing remains a critical challenge in Nigeria's real estate sector, where high capital intensity, macroeconomic instability, and weak institutional frameworks limit sustainable housing delivery. This study evaluates the financing models adopted by real estate developers in Lagos State and identifies the key factors influencing their adoption, contributing to the scarce empirical evidence on financing innovation in emerging markets. Methods: Using the 2025 REDAN Lagos State directory, the study targeted 391 registered development firms. A sample size of 194 was determined with Yamane's (1967) formula, and 194 questionnaires were distributed. Of these, 146 valid responses were retrieved (75.26% response rate). Data analysis employed descriptive statistics and factor analysis to examine adoption patterns and underlying determinants.