Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria
The global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impac...
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Altezoro s.r.o. (Slovak Republic) and Publishing Center "Dialog" (Ukraine)
2019-12-01
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doaj-a432abdb5d564e09bd6c5da647a7e63e2020-11-25T00:08:53ZengAltezoro s.r.o. (Slovak Republic) and Publishing Center "Dialog" (Ukraine)Traektoriâ Nauki2413-90092019-12-015122001200810.22178/pos.53-3Impact of Global Economic Meltdown on Property Development in Bauchi, NigeriaAbubakar Mammadi0Habu Mallam Baba1Sadiq Tukur2Abdulazeez Adam Muhammad3Abubakar Tafawa Balewa UniversityAbubakar Tafawa Balewa UniversityAbubakar Tafawa Balewa UniversityAbubakar Tafawa Balewa UniversityThe global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impact of the global economic meltdown on property development in Bauchi, Nigeria. Data for the study are mainly primary in the form of questionnaires administered. The study had property development as an endogenous variable while a high-interest rate and unemployment rate as exogenous variables to measure the constructs. Multiple Regression were used to analyze the data. Among the study, findings are that high relationship exists between the two predictor variables (High-Interest Rate & Unemployment Rate) and dependent variable (property Development) where ‘R’ of 0.724 means the correlation is about 72 %; with R2 of 0.052 indicate that 5.2 % correlation, the analysis also depict in coefficient table that high-interest rate has more influence on dependent variable (PD) than unemployment rate. The analysis signified that the impact of the global economic meltdown has a positive effect on the dependent variable. Based on the findings, the study recommended governments and financial institutions intervention to curb the impediment of property development in Bauchi, Nigeria.https://pathofscience.org/index.php/ps/article/view/682economic meltdownproperty developmenthousing marketinterest rate |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Abubakar Mammadi Habu Mallam Baba Sadiq Tukur Abdulazeez Adam Muhammad |
spellingShingle |
Abubakar Mammadi Habu Mallam Baba Sadiq Tukur Abdulazeez Adam Muhammad Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria Traektoriâ Nauki economic meltdown property development housing market interest rate |
author_facet |
Abubakar Mammadi Habu Mallam Baba Sadiq Tukur Abdulazeez Adam Muhammad |
author_sort |
Abubakar Mammadi |
title |
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria |
title_short |
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria |
title_full |
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria |
title_fullStr |
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria |
title_full_unstemmed |
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria |
title_sort |
impact of global economic meltdown on property development in bauchi, nigeria |
publisher |
Altezoro s.r.o. (Slovak Republic) and Publishing Center "Dialog" (Ukraine) |
series |
Traektoriâ Nauki |
issn |
2413-9009 |
publishDate |
2019-12-01 |
description |
The global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impact of the global economic meltdown on property development in Bauchi, Nigeria. Data for the study are mainly primary in the form of questionnaires administered. The study had property development as an endogenous variable while a high-interest rate and unemployment rate as exogenous variables to measure the constructs. Multiple Regression were used to analyze the data. Among the study, findings are that high relationship exists between the two predictor variables (High-Interest Rate & Unemployment Rate) and dependent variable (property Development) where ‘R’ of 0.724 means the correlation is about 72 %; with R2 of 0.052 indicate that 5.2 % correlation, the analysis also depict in coefficient table that high-interest rate has more influence on dependent variable (PD) than unemployment rate. The analysis signified that the impact of the global economic meltdown has a positive effect on the dependent variable. Based on the findings, the study recommended governments and financial institutions intervention to curb the impediment of property development in Bauchi, Nigeria. |
topic |
economic meltdown property development housing market interest rate |
url |
https://pathofscience.org/index.php/ps/article/view/682 |
work_keys_str_mv |
AT abubakarmammadi impactofglobaleconomicmeltdownonpropertydevelopmentinbauchinigeria AT habumallambaba impactofglobaleconomicmeltdownonpropertydevelopmentinbauchinigeria AT sadiqtukur impactofglobaleconomicmeltdownonpropertydevelopmentinbauchinigeria AT abdulazeezadammuhammad impactofglobaleconomicmeltdownonpropertydevelopmentinbauchinigeria |
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