The real estate industry is a key sector of the world economy, playing a significant role in socio-economic and sustainable development of the United Nations as enshrined in the Sustainable Development Goals. Despite its vital role, real estate service delivery in Nigeria is bedeviled by manual processes, inefficiencies, and slow digital adoption. Digitalisation may enhance the role of real estate practice. This study focuses on the role of digital technology utilisation in real estate practice in Nigeria`s emerging market to ascertain the major constraints and its potentials for effective service delivery. This study adopted quantitative research method in a scientific way to provide facts and data in a systematic and organized manner, A-well-structured questionnaire was used to gather data from practicing registered real estate firms in selected cities. Data were cleaned, coded and transformed using Statistical Package for Social Science (SPSS version 26) software and analysed with descriptive statistical tools. The researchers concluded that digital technologies enhance effective service delivery in real estate practice. Though there are pockets of constraint that hinder the adoption and application. The study recommends that there is a need for real estate practitioners to prioritize and invest more in digital tools to enhancing their operational efficiency and effectiveness to and stay competitive in the market. Regular training and capacity-building for estate surveyors and valuer is encouraged to enable them maximize the benefits of digital tech. This research effort contributes to repositioning Nigeria real estate emerging market service delivery and spur stakeholders and policy makers in making decisions that will enhance the achievement of socio-economic and sustainable development.

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Stakeholders` Perspective of Real Estate Practice in Nigeria’s Emerging Market: The Role of Digital Technology in the Twenty-First Century

  • Bernard Adjekophori,
  • Fidelis I. Emoh,
  • Monday Osagioduwa,
  • Austin C. Otegbulu

摘要

The real estate industry is a key sector of the world economy, playing a significant role in socio-economic and sustainable development of the United Nations as enshrined in the Sustainable Development Goals. Despite its vital role, real estate service delivery in Nigeria is bedeviled by manual processes, inefficiencies, and slow digital adoption. Digitalisation may enhance the role of real estate practice. This study focuses on the role of digital technology utilisation in real estate practice in Nigeria`s emerging market to ascertain the major constraints and its potentials for effective service delivery. This study adopted quantitative research method in a scientific way to provide facts and data in a systematic and organized manner, A-well-structured questionnaire was used to gather data from practicing registered real estate firms in selected cities. Data were cleaned, coded and transformed using Statistical Package for Social Science (SPSS version 26) software and analysed with descriptive statistical tools. The researchers concluded that digital technologies enhance effective service delivery in real estate practice. Though there are pockets of constraint that hinder the adoption and application. The study recommends that there is a need for real estate practitioners to prioritize and invest more in digital tools to enhancing their operational efficiency and effectiveness to and stay competitive in the market. Regular training and capacity-building for estate surveyors and valuer is encouraged to enable them maximize the benefits of digital tech. This research effort contributes to repositioning Nigeria real estate emerging market service delivery and spur stakeholders and policy makers in making decisions that will enhance the achievement of socio-economic and sustainable development.