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Impact of Economic Meltdown on Prime Residential Property Market in Lagos Nigeria

Author

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  • Austin Otegbulu

Abstract

The global economic meltdown of 2008 is adjudged in many circles as the worst financial crisis as it not only threatened to collapse large financial institution, but also premised the bailout of many banks the world over by their governments and also resulted in stock market downturn. The meltdown affected many business concerns and property investments. Property markets in different parts of the world were under severe threat, and their property cycle in line with the economic cycle experienced a downturn. The study aims at examining how the global meltdown affected activities in the prime residential market in Lagos, Nigeria relative to sub-prime property market. Data will be collected from developers, estate surveyors and financial institutions through both structured questionnaire and official documented information. Analysis will be based on both descriptive and inferential statistics.

Suggested Citation

  • Austin Otegbulu, 2013. "Impact of Economic Meltdown on Prime Residential Property Market in Lagos Nigeria," AfRES afres2013_101, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2013_101
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    More about this item

    Keywords

    Economic-meltdown; prime-residential property; property cycle; Property Market;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    Statistics

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