Effects of Building Material Costs on Housing Development in Nigeria

ABSTRACT

The housing sector in Nigeria has faced significant challenges due to the fluctuating costs of building materials, impacting overall housing development. This study investigates the relationship between building material costs and housing development in the region, considering various economic, social, and environmental factors. Using a combination of qualitative and quantitative research methods, including surveys, interviews, and statistical analysis, the study explores how rising material costs affect housing affordability, construction timelines, and overall development progress. Findings indicate a direct correlation between material costs and delays in housing projects, increased financial burdens on developers, and a consequent rise in housing prices, which disproportionately affects lower-income populations. The study concludes with recommendations for policy interventions and strategic planning to mitigate the adverse effects of material cost fluctuations on housing development, using Imo State, Nigeria as a case study. This manuscript examines the impact of building material costs on housing development in Imo State, Nigeria. Over recent years, the fluctuating prices of construction materials have significantly influenced housing projects, affecting both the cost and quality of housing development. This study aims to analyze the relationship between material costs and the housing market dynamics in Imo State, providing a comprehensive overview of how these costs impact various aspects of housing development. By employing a combination of quantitative and qualitative research methods, including surveys and interviews with key stakeholders in the construction industry, this research provides insights into the challenges and implications of rising material costs. The findings indicate that increasing material costs have led to higher housing prices, delays in project completion, and reduced affordability for low-income families. This paper concludes with recommendations for policy interventions and strategies to mitigate the adverse effects of material cost fluctuations on housing development.

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WSN 197 (2024) 55-72

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