SUSTAINABLE REAL ESTATE INVESTMENT DECISION MODEL: A REVIEW OF LITERATURE

Nigerian property market has long battled with the question “why do real estate investments fail”. Therefore, this study probes into the theoretical concept of decision-making process adopts in developed economies for property investment. The primary aim is to develop a model that could provide support for real estate investment decision making in Nigeria contest. The study adopted content analyses approach to cross-examine relevant literature on decision theories. The study found that, decision making process relating to real estate investment project takes the form of sequential or cyclical. The phases that are common to all the reviewed studies include envisioning, planning, dealing, executing, watching and optimizing in that order. Hence, the study recommended the decision theory model developed by Parker (2010) as a sustainable model that could accommodate the Nigerian property market parameters and can fit in any purpose geared towards real estate investment purpose.