Housing Affordability and the Organized Private Sector Housing in Nigeria - Open Journal of Social Sciences

JSS > Vol.8 No.4, April 2020

Open Journal of Social Sciences

Volume 8, Issue 4 (April 2020)

ISSN Print: 2327-5952 ISSN Online: 2327-5960

Google-based Impact Factor: 0.73 Citations

Housing Affordability and the Organized Private Sector Housing in Nigeria ()

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DOI: 10.4236/jss.2020.84013 858 Downloads 3,344 Views Citations

Author(s)

Samson Akinbamide Omobayo Adegoke^1*, Tunde Agbola²

Affiliation(s)

¹Department of Estate Management and Valuation, Osun State College of Technology, Esa-Oke, Osun State, Nigeria.
²Department of Urban and Regional Planning University Of Ibadan, Oyo State, Nigeria.

ABSTRACT

Growing housing deficit in Nigeria, particularly in urban areas, has resulted to various housing problems such as overcrowding, homelessness, slum and squatter developments. Despite the myriad of housing policies and programmes to solve the housing deficit, the desire goals have not been achieved, hence the adoption of organized Private Sector housing delivery in 2002. This research is an assessment of the Affordability of Organized Private Sector Housing Delivery in Nigeria. We adopted cross-sectional survey and multi-stage sampling technique. Two states with the prevalence of organized private sector housing developers (OPSHD) in each of the six (6) geo-political zones of Nigeria were selected. Ten Percent (1950) households were randomly selected from the occupied houses (19,500) in all the estates. The structured questionnaires administered on 1950 household heads focused on demographic characteristics (age, sex, and household size) and housing affordability variables (income, housing expenditure and access to mortgage). Questionnaire administered on OPSHD focused on types of houses produced, selling prices and terms. Affordability rating scale (normal ≤ 30%; tolerable 30.1% - 50% and stressed > 50%) was used to measure housing affordability. The study revealed that 42.4%; 36.9% and 20.6% of households have normal, tolerable and stressed housing affordability respectively. The implication of these findings is that organized private sector housing is not affordable to most Nigerians, particularly the low and medium income households; and therefore need to be assisted. A more efficient mortgage with better penetration among the low and medium income household is desirable. Also, “rent-and-own” option should be considered to enhance affordability of low and medium income households.

KEYWORDS

Organized Private Sector Housing Developer, Housing Expenditure, Housing Affordability Profile, Housing Affordability Rating Scale, Mortgage Penetration

Share and Cite:

Adegoke, S. and Agbola, T. (2020) Housing Affordability and the Organized Private Sector Housing in Nigeria. Open Journal of Social Sciences, 8, 177-192. doi: 10.4236/jss.2020.84013.

Cited by

[1]	An Analysis of Problems in Housing Ownership and Property Development in Abuja, Nigeria
	Journal of Advances in Humanities …, 2022

[2]	Applications of Housing Affordability Measurement Approaches Used in Planning Affordable Housing: A Systematic Review
	Journal of Building Construction and Planning …, 2022

[3]	SUPPLY CHAIN MANAGEMENT IN PREFABRICATED HOUSING CONSTRUCTION IN NIGERIA
	2022

[4]	Housing Tenure Choice and Housing Affordability in Nigeria: A Comparative Analysis of Owners and Renters of Organized Private Sector Housing
	2020

[5]	Sub-Sahara African Academic Research Publications

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