Determinants of homeownership affordability in Nigeria’s urban housing markets

What is it about?

The article established the factors that contribute to the affordability of homeownership in a developing country's housing markets. In most of these countries, homeownership is accessed through what is termed unconventional or informal means of households building their homes with their incomes and savings as against the formal process of buying with mortgages commonly practiced in Western economies

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Why is it important?

There are strong aspirations for homeownership in many countries across the world. The factors that determine affordability of housing cut across different economies and systems. However, their roles are different between the two contrasting systems of buying homes with formal mortgages which obtains in developed economies of the West and building with household incomes and savings practiced in many developing countries. Moreover, there are factors which may be important to one system but not to the other. Establishing the factors that determine affordability in the unconventional housing markets is important for policy and practice. Research on the subject in this context is scanty

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