EVALUATING THE EFFECT OF HIGH COST OF BUILDING MATERIALS ON PORPERTY DEVELOPMENT
|REAL ESTATE MANAGEMENT|
No of pages
|MS Word & PDF|
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Development has a wide meaning among Architects, Engineers and surveyor.
Development has been defined by statute the best known being the town planning laws in Europe America, Africa and else where.
The most collaborated of them all, the British town and country planning Act of 1947 has defined “Development building engineering mining of other operations in, on, over or under the land or the making of any materials charge in the use of any building or other land.
In the course of time, the cost of construction of a decent shelter for an average family began to rise, cost of building materials and inflation much more than thus, was the immediate need to contain the over populated urban centers, which were fast charring out ghettos of different sorts.
The rise in the population could no longer be match with corresponding rise in the provision of good shelter for the populace majority of the people did not even have enough to live not to mention having money to build their own houses.
There, nor arise a problem of providing shelter for the ever-emphasizing population in a depressed economy.
Properly development may be under taken to meet new or an expanding demand as in the case of house building be needed to replace existing assets in order to meet present demand more effectively or the supplant oblate properties.
1.1 STATEMENT OF PROBLEM
Due to instability of the economic which result into devaluation of the naira, building materials most of which are imported into the country have continued high in cost.
This result to inadequate supply of building materials, shortage of accommodation and inadequate infrastructure development which affect housing supply.
1.2 AIM OF THE STUDY
The aim of the study is to examine the effects of high cost of building materials on property development in the study area.
1.3 OBJECTIVES OF THE STUDY
The objectives include:
1. To identify the various types of property development in the study area.
2. To examine various types of building materials
3. To examine the cost of building materials for some years.
4. To examine the effect of high cost of building materials on housing development
5. To recommend solution to the problem at hand.
1.4 SIGNIFICANT OF THE STUDY
This study could be used in solving problem that arise as a result of high cost of building materials as it related to property development.
It exposes the researcher to different materials and method of construction available in the industry in other to beat down cost of construction.
It will enable the industry to known how to improve in its services as per finding alternative approach in solving the problem at hand.