Development appraisal practice and risk adjustment in commercial property development in Lagos metropolis

摘要: The decision-making techniques used in real property development are greatly influenced by the dynamic and complex socio-economic environment in which property development operates. The reliability of development appraisals equally depends on the ability of the appraiser to accurately estimate the variables input use in the appraisal. In this regard, this paper was structured to evaluate the commercial property development appraisal practice and risk adjustment in Lagos Metropolis.The survey for this study was conducted in 2003. Data were collected using both stratified and random sampling techniques. Lagos Metropolis, the study area was classified into strata; and each stratum consist of economic nuclei where surveying activities aggregate. The sample frame, which was obtained from the 2002 directory of Estate Surveyors and Valuers in Nigeria, gave the total population of valuation firms in the study …