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ABSTRACT
This study evaluates the role of crowdfunding in real estate development within Benin City, Nigeria, with the objectives to assess awareness among real estate investors, examine the extent of crowdfunding adoption, evaluate its effectiveness compared to traditional finance methods, and identify factors influencing its adoption. A quantitative survey approach was employed, utilizing questionnaires administered to 68 registered estate surveyors and valuers, and real estate developers, achieving a 63.2% response rate. Descriptive statistics revealed that while there is substantial awareness of crowdfunding, its adoption for real estate financing remains limited. Traditional finance methods are preferred for their accessibility, flexibility, and convenience, although crowdfunding is viewed favorably in terms of cost, risk management, transparency, and sustainability. Key factors influencing the adoption of crowdfunding include regulatory frameworks, with the study underscoring the need for clear guidelines from government and regulatory bodies. The findings highlight the potential of crowdfunding for real estate development and call for further research to address existing challenges, ultimately fostering better development in Nigeria's real estate sector. These insights are valuable for stakeholders interested in leveraging crowdfunding as an alternative financing mechanism for real estate development, informing strategic decision-making and policy formulation.
