RISK IN REAL ESTATE DEVELOPMENT; A PERCEPTION OF DEVELOPERS IN NIGERIA:

Real estate development usually involves a multi-step process that can be complex, long-lasting and uncertain, it generally takes years to bring a development from the early planning phase through construction to final completion and there are profuse of problems that can follow alongside the developers are however the managers of this activities and take the highest risk in the creation or renovation of real estate development. Data was collected amongst 120 property development firm in  Abuja through self-administered questionnaire and was analyzed using descriptive statistics. The study revealed that fluctuation in construction cost, rent fall reflecting possible depression in the market and interest rate capital being competitive are the highest risk factors that have the most significant effect on real estate development. It is recommended that the government should assist in the regulation of policy to assist development with financial support to boost the sectors.   Keywords: Development; Real Estate; Risk; Property developer.