The Place of Quality Market Research in Real Estate Investment Decisions

Abstract

There has been overwhelming recognition of the contributions of quality Market Research to real Estate Investment decisions in recent times. This study assessed the place of quality Market Research in global real Estate Investment decisions and exhaustively discussed the importance of quality Market Research in Real Estate Investment decisions. The study showed that quality Market Research is imperative for any meaningful investment decisions. The importance attached to quality Market Research for Real Estate Investment purposes was further assessed by the extent to which potential investors and investment analysts comply with set standards in their pre-investment and developmental appraisals with regard to the market Research in key determinants/ elements of Real Estate Investment. The study shows that 98.8­% of the respondents actually carry out market research prior to investment decisions signifying the quantum of importance attached to Market Research for Real Estate Investment. The study further showed that 83% of the respondents strongly agree that quality Market Research is relevance in embarking on Real Estate Investment and impacts positively in their investment decisions. The study further indicated a mean score of 3.0 and above on the level and extent of Market Research conducted by potential investors .which by implication shows the relevance and importance attached to quality Market Research in Real Estate Investment decisions. The study further recommended that a standard Market Research Manual or standard pre-investment study template stipulating the data content of Market Research should be provided by relevant authorities or concerned professionals to ensure standardization.