ABSTRACT
The relevance of real estate to our economics and social development cannot be over-emphasized not at least in the housing sector, which has a critical impact on Individual and National Welfare. Firstly finance plays a key role in the housing development project and process and this provides the most important element that is been taken into consideration. The objective of this study is to find a suitable source of finance for housing development project. To provide affordable house to household, viability for commercial bank and developers and recourses mobilization for expansion of the sector. This research focuses on Port Harcourt metropolis capital of River State. The source in which data was collected and gathered is through primary and secondary source. This has contributed immensely in producing relevant information that gives extensive investigation on the examination of the role of commercial banks in Port-Harcourt metropolis. Areas are as follow Iworfre is 45, Rumasen area are 49, Rumokor area are 35, Rumador area are 51, so total are now 200. The techniques stratified random sampling. The technique used for questions. It has equally collected and carefully analyzed data from both primary and secondary sources using percentages.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Right from the time, food, clothing and shelter have been the three most basic requirements of man, of all these three requirements food and clothing are the two, which influence man’s life more than housing in which they seek shelter, security, comfort and dignity. It is in fact where man start and ends his daily activities.
Housing is mainly the most important factor, which determine the nature and from of urban settlements and the quality of human existence is directly related to it. housing is defined by Oyeyipo (1980) to mean the provision of any form of structure, erection of building which is man made for the purpose of accommodating a person or persons by taking housing to mean only shelter, the definition appears deflective as it ignores all these infrastructural facility, which housing brings along with it. the World Health Organization Committee on Housing define it as “the physical structure then use for shelter including equipment and devices needed for physical and social wellbeing of occupants” such equipment and devices includes utilities and services like electricity, water supply, and good access roads, sewage and refuse dump facilities.
The fact remains that Port-Harcourt metropolis is occupies mainly by government workers with low income. These positions make it difficult for them to afford the cost of developing housing for their use. They therefore resort to borrowing from the commercial banks in other to find money for housing development and also Port-Harcourt metropolis is made up of river line areas, swamp ground.
The Questions then “is the existing commercial banks in Port-Harcourt metropolis enough to satisfy the demands for residential housing? Are loans of these low income earners residing in Port-Harcourt metropolis? If not, how can the bank be improved.
This research work therefore intends to exist commercial banks of Port-Harcourt metropolis with a view to find out how efficient it has been performing and proposing how the system could improve.
Housing development is a fundamental and essential features in the urban environment. Adequate provision of housing development have a great deal of positive impact on both the economic and social life of the urban citizens and its inadequacy has reverse effect.
