ABSTRACT
This dissertation is a model that looks at residential property investment in Osun State, as well as the issues that come with it. The dissertation’s major goal is to look into ways to meet the demand for new housing units in Osun State, namely in Osogbo. The questionnaire approach was used to collect information, and it was used to obtain necessary information. This project was based on residential property investment in Osun State, and it included a survey of literature, as well as new ideas and conclusions. The current corpus of knowledge was expanded to include information on the study topic. This research work’s study topic was ease, and it was carried out with the help of aments housing estate in Osogbo.
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
The advantages of residential property investment, as well as the difficulties encountered in its administration, cannot be overstated.
As a result, residential property investment entails making a current financial commitment in exchange for uncertain future returns. The study will look at various property investments, with a focus on residential property investment.
However, property value appreciation is dependent on the property’s location, demand and supply, and the uses to which it can be put in the local market. Because of its potential for appreciation, real estate is seen as a solid inflation hedge. Construction costs have a propensity to rise faster than ordinary inflation.
In Osun State, there is a concern with residential property investment.
The numerous financial options for such a project must also be evaluated.
Amorit Housing Estate, popularly known as “living spring homes,” is one of the housing estates in Osogbo, Osun State, that provides appropriate housing. The Estate is located along Ede Road Abere, near the Osun State Secretariat, with a total land area of 7.9 hectares and a decent land leveled surface. The Estate is bordered on the ring side (west ward) by an unfinished housing estate, on the left side (east ward) by a huge expanse of land, and in the north by an express motorway.
Amorit Dwelling Estate began building in Osogbo in early 2007 with the goal of delivering roughly 100 housing units, each consisting of two stories (2)
Furthermore, the administration is overseen by the director, who is Mr. Kayode Oyewole, the housing Estate’s assistant. The estate’s administrative work is supported by a number of departments, which include:
Department of marketing
Department of Accounting
Department of maintenance and
Department of Engineering
For proper administration of the housing estate.
Finally, the process for holding a unit in the estate can be gained by purchasing of the application for form #5,000 fees non-refundable and one can be issued with the application form which must be completed by the applicants and must be submitted with the applicant passport.
The mode of payment for the allocation of the housing unit includes the following:
outright payment
Installmental payment
STATEMENT OF PROBLEM
The state’s available residential accommodation has been found to be woefully inadequate to accommodate the state’s population of approximately 3.2 million people. This necessitates the formation of a public-private cooperation in the provision of residential homes for individuals.
The income and risk associated with housing providing as an investment are inextricably linked. The researcher, on the other hand, thinks it’s important to look into the profitability of residential investment in the state, as well as the dangers and issues that come with it.
AIM/OBJECTIVES OF THE STUDY
Using Amorite Estate Osogbo as a case study, this paper aims to analyze and examine residential property investment in Osun state and its associated challenges.
The following objectives will be implemented in order to attain the goal.
Examine various options for increasing housing investment in the state.
To assess the viability of a residential property investment and the likelihood of achieving the desired income.
To identify the risks (problems) associated with residential real estate investment, as well as to provide solutions and recommendations for the issues discovered.
JUSTIFICATION OF THE STUDY
The state’s available residential accommodation has been found to be woefully inadequate to accommodate the state’s population of approximately 3.2 million people. This necessitates the formation of a public-private cooperation in the provision of residential homes for individuals.
The income and risk associated with housing providing as an investment are inextricably linked. The researcher, on the other hand, thinks it’s important to look into the profitability of residential investment in the state, as well as the dangers and issues that come with it.
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