The Effects of Rising Cost of Building Material on Property Development

The Effects of Rising Cost of Building Material on Property Development

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Reference ID: PS-4907-TM

DEDICATION

This research material titled “The Effects of Rising Cost of Building Material on Property Development” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Estate Management (EM), Book Authors and Profound Scholars of existing or related project material on “The Effects of Rising Cost of Building Material on Property Development” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    The Effects of Rising Cost of Building Material on Property Development

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    The construction industry in Nigeria is upcoming industry; the sector is regarded as a catalyst for growth while its performance serves as an indicator of the nations economy (Akanni et al.,2014). It us supported by the association of construction players, which encompasses developers, contractors, building material and equipment suppliers, manufacturers, financiers, regulators and others in the value chain.

    Building material have been playing an important role in the construction industry. They are those materials put together in erecting or constructing structures, no field of engineering is conceivable without their use (Akanni, 2006; Udisen and Akanni, 2010). Building materials contribute immensely to the quality and cost of housing, from what is used in the foundation to the materials for roofing and finishes, while the building material industry us an important contributor to the national economy of any nation as its output governs both the rate and the quality of construction work.

    The cost of building materials poses a significant threat to both the construction industry and people aspiring to own houses (Anosike, 2009; Mekson, 2008; Mohammed, 2008; Njoku, 2007). For example a bag of cement is valued at N1350 in 2006 goes as high as N1850 in 2009 (Anosike,2009) depicting about 37% increment; the bag goes as high as N2000 in 2012 during peak season (Field survey 2012). Supporting this view, Jagboro and Owoeye (2004) earlier established that increase in prices of building materials has multiplier effects on the industry while Idoro and Jolaiya (2010) affirmed that many projects were not completed on time due to the cost of materials, which have been on the increase. Besides timely completion, high prices of building materials form a crucial constraint to improving housing conditions in the low income earning countries, Nigeria inclusive (United Nations Center for Human Settlement (UNCHS),1993).

    1.2 Statement Of The Problem

    Inspire of the past studies on the cost of building materials in Nigerua , little us publicized about the effects of the rise in cost on property development; most literature (Jagboro and Owoeye,2004; Meckson,2008; Njoku,2007; Oladipo and Oni,2012) has concentrated on identifying the causes with little emphasis on the implications, hence, the research seeks to provide information on effects of the rising cost of building material by examining its Influence On Property Development.

    1.3 Objectives Of The Study

    The major objective of the study is the effects of rising cost of building materials on property development.

    1.4 Research Questions

    1. What are Building Material?
    2. What is property development?
    3. What are the factors that can increase cost of building materials?

    1.5 Significance Of The Questions

    This study gives a clear insight into the effects of rising cost of building materials on property development. The study also produces results that corroborate the Fo dings of a great deal of the previous work in this field.

    1.6 Scope Of The Study

    The research focuses on the effect of rising cost of building materials on property development.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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