Publications

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A
Abere, O, Ogunba O, Dugeri T.  2020.  An investigation of factors influencing maturity levels of property market in southwestern Nigeria, 2020/09/30. ahead-of-print Abstract

PurposeThe study investigated the factors influencing maturity levels in the Nigerian property market particularly southwestern Nigeria in sub-Saharan Africa. There is a need to identify the factors responsible for the less notable progress in the market in order to proffer measures that will enhance the property market or attract both local and international real estate investors.
Design/methodology/approach
The method of data analysis adopted is weighted mean scores. The study sampled estate surveyors, public land administrators and financier, which are represented by the commercial bank. The respondents were presented a list of 40 factors and asked to rank them on a seven-point Likert scale. In order to reduce the variables responsible for the maturity levels into a few factors, factor analysis was employed.
Findings
The factors identified by respondents as the most responsible for the maturity levels observed (those with the highest weighted mean score of 6.52, 6.35 and 6.31) include government policy on interest rate, safety of property right/titles and insufficient property market information. Using factor analysis, the variables were further grouped into six factors namely monetary policy, property right registration, property professionalism, investor friendliness, property data and economic factors.
Practical implications
On the basis of findings, the study recommends that the government should create an enabling environment for prospective investors/or property owners by taking measures that will improve the ease of doing business at same time enhance the foreign real estate investment. The government should pass enabling legislation that will make real estate financing a feature of the capital market. The Central Bank of Nigeria can help in managing the rate of inflation in order to reduce the cost of the construction materials so that average Nigerian can be able to own property asset. Prominent real estate firms should in conjunction with The Nigeria Institution of Estate Surveyors and Valuers develop property data bank on market fundamentals, e.g. rental/capital values, yields, construction cost indices, etc.
Originality/value
The paper provided the information on the factors that will enhance property maturity levels in southwestern Nigeria.

Adewumi, Y, Ajayi CA, Ogunba OA.  2009.  facilities Management: Factors Influencing the Roles of Nigerian Estate survey. Journal of Facilities Management. 7(3):246-258.
Adewunmi, Y, Ajayi CA, Ogunba OA.  2009.  Facilities Management: Factors Influencing the Role of Nigerian Estate Surveyors". Emerald Journal, United Kingdom . 7(3):246-258.
Ayedun, CA, Ogunba OA, Oloyede SA, Akinjare OA.  2011.  “Empirical Verification of the Accuracy of Valuation Estimates Emanating From Nigerian Valuers: A Case Study of Lagos Metropolis” . Journal of the Canadian Center of Science and Education, Canad. 3(4)
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CIroham, O, Ogunba OA.  2008.  Client Influence on Valuation: Its effects on Lagging of Commercial Property Investments. Journal of the Faculty of Environmental Sciences, University of Lagos . 6(2):55-71.
CIroham, O, Ogunba OA.  2010.  “A Search for an Acceptable Margin of Valuation Error: A Case Study of Valuers and their Clients in Nigeria” . Sri Lankan Journal of Real Estate. Department of Estate Management and Valuation, Faculty of Management Studies & Commerce, University of Sri Jayawardenepura, Nugegoda, Sri Lanka.. (4):54-73.
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Ogunba, OA.  2009.  Improving Housing fund Modeling in Nigeria. , Journal of the Nigerian Institution of Estate Surveyors and Valuers, Lagos.. 32(1):51-59.
Ogunba, OA, Ajayi CA.  2018.  Property Feasibility & Viability Studies. , Ile-Ife: Obafemi Awolowo University Press
Ogunba, OA.  1987.  The Effects of the Economic Recession on the Urban Property Market: a Case Study of Ijebu-Ode. , Ile-Ife: Obafemi Awolowo University, Ile-Ife
Ogunba, OA, Ajayi CA, Aluko BT.  2005.  “Substitution versus Anticipation: A Resolution of The Valuation Practice Paradox”. Journal of the Department of Estate Management, FUTA, Akure. 1(1):1-11.
Ogunba, OA, Olaleye A, Oloyede S.  2002.  Financing Home Ownership in the city: Searching for the most Viable Options, 9 – 11 October . ‘the City in Nigeria’. , Conference Centre, Obafemi Awolowo University, Ile- ife
Ogunba, OA.  2002.  “Prospects and Problems of the Use of Regression Analysis in Property Valuation in Commonwealth Countries: A case study of Nigeria” . Journal of the Faculty of Environmental Technology, Federal University of Technology, Akure. 1(2):156-164.
Ogunba, OA, Ojo O, Boyd TP.  2005.  “Assessing Development Appraisal Risk with Reference to Client Specific Risk Tolerance and Perspectives” . Conference Proceedings of the Construction Research Conference of the RICS Foundation and the Australian Universities Building Educators Association held at the Queensland University of Technology, Australia . :11., Australia: University Accreditation sub-committee of A&P
Ogunba, OA, Boyd TP.  2005.  “How suitable are contingent valuation techniques for valuing properties in non-market situations? , 4-8 July, 2005 Construction Research Conference of the RICS Foundation and the Australian Universities Building Educators Association. , Queensland University of Technology, Australia
Ogunba, OA.  2009.  “Globalization and Risk Management in Development Appraisal: Challenges before Nigeria”. Journal of the Department of Estate Management and Valuation, Faculty of Management Studies & Commerce, University of Sri Jayawardenepura, Nugegoda, Sri Lanka. :22-37.
Ogunba, OA, Ajayi CA.  2007.  “The Response of Nigerian Valuers to Increasing Sophistication in Investors’ Requirements”. The Special Journal Issue on African Real Estate Journal of Property Investment & Finance, Emerald Journal, Reading, United Kingdom. 25(1):43-61.
Ogunba, OA.  2002.  Urban Property Development: Addressing the Downside Risksn Akure , 25-28 November. ‘the City in Nigeria’ . , Obafemi Awolowo University, Ile-Ife
Ogunba, OA.  2002.  “Book Review of Lawal’s Book “Property Development in Nigeria”. Journal of the Faculty of Environmental Technology, Federal University of Technology, Akure. 1(2):183-187.
Ogunba, OA, Boyd TP.  2005.  “How suitable are contingent valuation techniques for valuing properties in non-market situations? Conference Proceedings of the Construction Research Conference of the RICS Foundation and the Australian Universities Building Educators Association . :14., Queensland University of Technology, Australia : University Accreditation sub-committee of A&P.
Ogunba, AO.  2002.  “Book Review of Lawal’s Book “Property Development in Nigeria”. Journal of Environmental Technology, Journal of the Faculty of Environmental Technology, Federal University of Technology, Akure. 1(2):183-187.
Ogunba, OA.  2011.  “Valuers Perceptions of Depreciation Models in DRC valuation: A Case Study of Nigeria’s Valuation Community”. Journal of Property Investment & Finance, Emerald Journal, Reading, United Kingdom.. 29(2):199-209.
Ogunba, OA.  2011.  Valuers perceptions of Depreciation Models in DRC Valuation: A . Journal of Property Investment and Finance. 29(2):1999-2009.