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
1.0Introduction 1
1.1Statement of problem 2
1.2Background of study 3
1.3Objective of study 4
1.4Significance of study 5
1.5Scope and limitation of study 5
1.6Definition of terms 6
1.7Research methodology 8
CHAPTER TWO
LITERATURE REVIEW 9
Historical background to housing and
housing finance in Nigeria. 9
2.1The need and demand for housing in Nigeria. 9
2.2 Participants in the financing of real estate in Nigeria. 21
2.3The public sector. 21
A.The federal housing authority 22
B.States housing development authority corporation24
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
2.4The private sector46
A.Property development companies 48
2.5The role of Housing finance in housing development 50
2.6Sources of real estate finance in Nigeria. 51
A.The traditional sources 52
B.The modern sources 55
2.7Problems arising from inadequate
financing of real estate in Nigeria. 57
CHAPTER THREE
Enugu State Housing Development Ebeona 60
3.1Aims and objectives 61
3.2Functions of he corporation 63
Revenue and Finding of Ebeano Housing Estate Enugu 64
3.3Loans 66
A.From the government 66
B.From financial institutions 68
CHAPTER FOUR
Housing Development by Eshda 71
4.1Land acquisition71
4.2Perceliation 74
4.3Development 75
4.4Housing construction 77
CHAPTER FIVE
5.1Finding and Recommendations 79
5.2Recommendation80
5.3Conclusion81
Bibliography 84