GENESIS, PROBLEMS AND PROSPECTS OF PROPERTY DEVELOPMENT AGENCY IN NIGERIA
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Abstract
Property and economic development share symbolic relationship. For developing countries, property business should form a major part of economic development and an alternative or income.
Starting in the 1960s as part of the emerging field of law and economics, economists and legal scholars began to study the property rights enjoyed by tenants under various estates being carried out by property development agencies.
Development process required skills of many professionals which has made the process tedious and cumbersome for an average development agency.
Property development remains a viable and profitable venture hence, the need for Government to put certain measures in place so as to reduce the problems and difficulties development agencies face and also to meet the growing housing needs of the masses.
Property sector as remained one of the least exploited sectors which has the capacity to yield a huge source of income for the government just like it is in the United Arab emirates [Dubai] and China presently.
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