The role of diaspora remittances in real estate investment in Awka South Local Government Area, Anambra State
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Background of the study
Diaspora remittances have become an increasingly vital source of capital in many developing economies, particularly in regions such as Awka South Local Government Area. These funds, sent by Nigerians living abroad, are often directed towards real estate investments, fueling urban development and property market growth. Remittances provide a stable inflow of capital, which not only facilitates home ownership but also supports commercial real estate ventures (Nwosu, 2023). The infusion of external funds has stimulated local construction, boosted employment, and contributed to economic diversification. However, challenges such as regulatory barriers and limited investment channels remain. Recent studies suggest that while remittances have a transformative potential, effective management and supportive policies are essential to maximize their benefits (Ike, 2024). Moreover, understanding the linkage between diaspora remittances and real estate investment is crucial for promoting sustainable urban development and addressing housing deficits (Obi, 2025).
Statement of the problem
Despite the significant inflow of diaspora remittances, the optimal utilization of these funds in real estate investment in Awka South is hampered by regulatory challenges and inefficient investment channels. This misalignment limits the potential benefits to urban development and economic growth. The absence of a structured framework to harness remittance funds effectively calls for an in-depth evaluation of existing practices and challenges (Nwosu, 2023).
Objectives of the study:
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To analyze the contribution of diaspora remittances to real estate investment.
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To identify regulatory and operational challenges in channeling remittances.
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To propose strategies for optimizing the use of remittance funds in real estate.
Research questions:
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How do diaspora remittances influence real estate investment in Awka South?
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What regulatory challenges impede the optimal use of remittance funds?
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What strategies can enhance remittance-driven real estate investment?
Research Hypotheses:
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Diaspora remittances have a positive impact on real estate investment.
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Regulatory challenges hinder effective utilization of remittance funds.
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Policy interventions can optimize the use of diaspora remittances.
Significance of the study
This study highlights the transformative role of diaspora remittances in real estate development, offering insights for policymakers and investors. The findings will help in formulating strategies to overcome regulatory challenges and maximize the positive impact of remittances on urban growth and housing development in Awka South.
Scope and limitations of the study:
Limited to the role of diaspora remittances in real estate investment in Awka South Local Government Area, Anambra State.
Definitions of terms:
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Diaspora Remittances: Funds transferred by migrants to their country of origin.
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Real Estate Investment: Investment in property assets for residential or commercial purposes.
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Regulatory Barriers: Legal or administrative obstacles affecting investment flows.
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