CHAPTER ONE

1.0      INTRODUCTION

1.1   BACKGROUND OF STUDY

The long standing relationship between a actions economic fining as measured by its gross domestic product (GDP), and real estate investments has been observed and studied over the past century by academicians as well as by provide and public officials to ascertain it extent or degree of contributions to a nation gross domestic products.

Investments are mostly or broadly classified into real estate and financial investments, but of late the distinction between the is gradually fading as both involves the parting with capital or funds with a view of earning income of returns in the future (Kalu, 2010). In other words, both read and financial investment  have effects to a nation’s earning as well as individual personal income. In as much as their nature, mode and surrounding characteristics and condition differs, they both are set to achieve an aim, which is to ensure a positive benefit in the future for the investor (both private and public), and such benefit will some how effect the output and economic standard of the nation.

Real property has been defined as the combination of land and nay permanent stricture or man-made structures or improvements that are permanently attached to the land with the aim of improving that land and enjoying its utilities, amenities and profits or returns (Emoh, 2004).

Real estate investment therefore, is the putting r pasting with funds put into development or acquisition of real estate, an equities in real estate company with a view o receiving future income/rent add or capital apperception. Ra estate is comprised of residential, commercial, agricultural, industrial and recreational properties, as well as base land (Kalon, 2010)

Accordingly, the essence of this work is to ascertain the impact of real properties development towards the nature gross demotic product, its ability to compete with other section of the economy, and general impact towards the economic advancement of the nation. In other words, the essence of the work a research is to examine the contributions of real of properties related service to gross domestic product in Nigeria.