FINANCIAL INTERMEDIATION AND GROWTH OF REAL ESTATE SECTOR IN NIGERIA
Abstract
ABSTRACT
This study examined the effect of financial intermediation on the growth of real estate sector in Nigeria. The study specifically examined the effect of bank credits, bank total deposits, lending interest rate and inflation rate on growth of real estate sector in Nigeria. Financial intermediation was proxied with banks deposit, bank credits and lending interest rate and inflation rate while the growth of real estate sector was proxied using real estate contribution to GDP. Secondary time series data for the period 1991 to 2022 were sourced from the CBN Statistical Bulletin. The data were estimated using ordinary least square (OLS) regression analysis. The study revealed that that bank credits and inflation rates has negative effect on the real estate sector growth while both bank deposits and lending interest rate have positive effect on the real estate sector growth. The study concluded that Thus, the study concluded that financial intermediation has a positive effect on the real estate sector growth in Nigeria between the periods under study. Therefore, the study recommended that banks should prioritize lending to real estate sector in a bid to enhance growth in real estate sector since this the study revealed a negative relationship with the growth of the sector.
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