ASSESSING THE IMPACT OF GOVERNMENT POLICIES ON REAL ESTATE DEVELOPMENT IN BENIN CITY, EDO STATE
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Abstract
This study assesses the impact of government policies on real estate development in Edo State, specifically in Benin City. With the growing demand for housing and commercial properties in urban areas, real estate development has become a critical sector in the economic growth of the state. The research aims to examine how various government policies, including land use regulations, zoning laws, taxation, infrastructure development, and housing schemes, influence the pace and nature of real estate activities
in the region. Through a combination of qualitative and quantitative methods, including surveys, interviews with stakeholders, and analysis of policy documents, the study identifies the key policies affecting real estate development. The findings suggest that while certain policies have positively impacted the sector by providing a more structured framework for development, others have posed challenges such as bureaucratic delays, inconsistencies in enforcement, and high cost of land acquisition. The study concludes that a more effective and transparent policy framework is essential for stimulating sustainable growth in the real estate sector. It also recommends specific policy adjustments to improve access to land, ease the development approval process,
and create an enabling environment for private sector investment in real estate in Edo State, particularly in Benin City.
in the region. Through a combination of qualitative and quantitative methods, including surveys, interviews with stakeholders, and analysis of policy documents, the study identifies the key policies affecting real estate development. The findings suggest that while certain policies have positively impacted the sector by providing a more structured framework for development, others have posed challenges such as bureaucratic delays, inconsistencies in enforcement, and high cost of land acquisition. The study concludes that a more effective and transparent policy framework is essential for stimulating sustainable growth in the real estate sector. It also recommends specific policy adjustments to improve access to land, ease the development approval process,
and create an enabling environment for private sector investment in real estate in Edo State, particularly in Benin City.
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