Exploring The Barriers to Global Trends in The Real Estate Development Industry: A Focus On Nigeria

Abstract

This general review paper explores current global trends in the real estate development industry as well as identifies the barriers to the growth and development of these industry trends in Nigeria. This study adopts the desk research approach using secondary information sourced from diverse databases. Content analysis of the secondary data show that advanced and some emerging markets have made tremendous progress in sustainable real estate development, disruptive technologies application in real estate development, real estate transparency, and development laws and regulation compared to Nigeria an emerging market. Barriers to the growth and development of the global trends in Nigeria’s real estate development industry were identified and grouped into eight sub-categories. Understanding these barriers and means to address them by policymakers, built environment experts and developers will result to sustainable growth and expansion of Nigeria’s real estate development industry. Further quantitative survey should be conducted to rate these factors in their order of significance.