Analysis of Investment Climate Perceptions Among Foreign Investors in Nigeria’s Real Estate Sector

This study analyses investment climate perceptions among foreign investors operating in Nigeria's real estate sector, focusing on how regulatory transparency, property rights security, and macroeconomic stability influence investment decisions and portfolio commitments. Nigeria's real estate sector has attracted increasing interest from foreign institutional investors, real estate investment trusts, and diaspora investors, particularly in the Lagos residential and commercial property markets. However, institutional weaknesses, multiple taxation layers, and land title disputes continue to create barriers to investment. The study adopts a survey research design with data collected from 70 foreign real estate investors, investment advisors, and property development company executives through structured questionnaires administered at real estate investment forums in Lagos. Descriptive statistics and factor analysis are used to identify dominant investment climate perception dimensions. The theoretical framework draws on the institutional theory of foreign investment and the political risk assessment literature. The study evaluates perceptions across dimensions including land tenure security, corruption levels, foreign ownership restrictions, dispute resolution mechanisms, and repatriation of investment returns. Findings are expected to reveal that property title irregularities and the absence of a reliable mortgage finance system represent the most significant deterrents to increased foreign real estate investment. Recommendations include accelerating land administration digitalisation, implementing a transparent national property registry, and strengthening the Real Estate Investment Trust regulatory framework in Nigeria. Keywords: investment climate, real estate, foreign investors, property rights, Lagos