The Effect of Digital Property Platforms on Housing Market Transparency in Abuja
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
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- Recommended for :
- NGN 5000
Background of the Study
Digital property platforms have revolutionized the way property transactions are conducted by providing online platforms for buyers, sellers, and landlords to connect. These platforms, which include property listing websites and mobile apps, offer transparency by providing users with detailed property information, including price, location, condition, and available amenities (Ogundele & Okunola, 2023). In Abuja, Nigeria’s capital, the adoption of digital property platforms has significantly improved the accessibility and transparency of the housing market, particularly in a market that was once characterized by limited information, lack of standardization, and opacity (Eze & Agboola, 2024). Digital property platforms have made it easier for individuals and businesses to access property listings, compare prices, and make informed decisions regarding property investment.
However, despite the convenience and benefits provided by digital property platforms, challenges remain regarding the accuracy and reliability of the information available online. Fake listings, misrepresentation of property details, and the absence of regulatory oversight can undermine the transparency of the housing market (Tijani & Babalola, 2023). The potential of digital platforms to enhance or detract from market transparency in Abuja's housing market warrants closer examination.
This study aims to assess the effect of digital property platforms on housing market transparency in Abuja, exploring the benefits, challenges, and implications of these platforms on market efficiency and trust.
Statement of the Problem
While digital property platforms are seen as a solution to market opacity, issues such as inaccurate listings, fraudulent advertisements, and lack of standardization still affect the integrity of the housing market in Abuja. The effectiveness of digital platforms in enhancing market transparency has not been sufficiently explored, particularly regarding how they influence buyer behavior, pricing, and decision-making. This study will address the gap by examining the role of digital property platforms in shaping housing market transparency in Abuja.
Objectives of the Study
- To evaluate the impact of digital property platforms on housing market transparency in Abuja.
- To identify the challenges and limitations of using digital property platforms in the Abuja housing market.
- To recommend strategies for improving the effectiveness of digital property platforms in enhancing housing market transparency in Abuja.
Research Questions
- How do digital property platforms influence housing market transparency in Abuja?
- What challenges exist in the use of digital property platforms in the Abuja housing market?
- How can digital property platforms be improved to enhance transparency in the housing market in Abuja?
Research Hypotheses
- Digital property platforms significantly improve housing market transparency in Abuja.
- The use of digital property platforms leads to more informed and efficient property transactions in Abuja.
- Challenges such as fake listings and lack of regulation hinder the effectiveness of digital property platforms in Abuja's housing market.
Scope and Limitations of the Study
This study will focus on the impact of digital property platforms on housing market transparency in Abuja, particularly in the residential sector. The study will examine various digital platforms used for property listings, including websites and mobile apps. A limitation of the study is the reliance on data from online platforms, which may not fully capture offline transactions and may suffer from data accuracy issues.
Definitions of Terms
- Digital Property Platforms: Online platforms or mobile apps that allow users to list, search for, and transact real estate properties.
- Housing Market Transparency: The degree to which accurate, reliable, and standardized information is available to all market participants.
- Market Efficiency: The ability of the market to allocate resources and set prices based on the available information.
