A Characterization of the Property Market in Kaduna, Nigeria

Purpose: Cross border property markets investments has grown over the years. The rapidity in growth of internationalised real estate investments became marked with the onset of the 21st century with investors desiring information on both national and regional market within emerging economies. This study evaluates the characteristics of the Kaduna property market in Northern Nigeria with a view to bringing out its investment attributes.Design/Methods: The study adopted and expanded on property market characteristics suggested by Dugeri (2011), Akinbogun (2012) and Clement, Ogunba and Dugeri (2016) to determine the characteristics of the property markets in the Nigerian cities. To achieve this objective, the study sampled dominant players in the market viz - estate surveyors and valuers, public land administrators and financiers through questionnaire surveys and structured interviews.Findings: The Kaduna property market is characterized with only direct investment opportunities and a multiplicity of property titles. The market is further served by a few Estate surveying and valuation firms relative to its size and stature within the Nigerian economy. The market suffers a lack of information fluidity.Practical Implications: The study reveals that the Kaduna property market requires restructuring with respect to the land registration system, the development of fundamental market data, and further research to prime it for investors seeking diversification opportunities.Originality/Value: This research provides for the first time a basic portrait of the Kaduna property market and adds to the swelling body off research on property markets in Africa.