Published 2022-05-03
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Abstract
The impact of pandemic on economic activities has not been fully studied to a great extent.
This informed the reason for this study which is to contribute to the body of literature that examines COVID 19 and real estate practice and transactions in Lagos metropolis Systematic random sampling technique was employed on the firms of estate surveying valuation as listed in NIESV directory that gives a sample size of one hundred and seventy six
(176) firms. One hundred and thirty two (132) questionnaires were duly completed and found adequate for the study. The data was analysis using descriptive statistics of frequency tables and weighted mean score. The findings revealed lack of access to property development finance, inability to carryout routine inspection as well as not being able to show prospective tenants or buyers the prospective property for inspection have highest weighted mean score of 5.0. This was followed by rent default and reduction of landlords' income of weight means score of 4.6. In order to mitigate the pandemic effect on real estate transactions there is need for more investment in information and communication technology (ICT) in real estate industry in Lagos metropolis.