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ABSTRACT
The study was undertaken to examine the socioeconomic impact of rent and real estate prices on the Nigerian Economic growth from 1981 to 2022. The main objective of the study is to examine the relationship between the real sector and the economic growth of Nigeria, and the sector's influence on the nation's economic development. The study adopted the autoregressive distributive lag (ARDL), unit root and co-integration using Eviews 9 to analyze among the variables using time series data on level of labour (LNLLAB), level of capital (LNLKAPT),real estate output (RSO) which is the key independent variable for the study (real estate sector's contribution) as proxies for the socioeconomic impact of real estate prices on the nation's economy and real Gross domestic product (RGDP) as a proxy for Economic growth status of Nigeria. The results reveal that increase in technological and infrastructural investment can increase economic growth and international competitiveness as well as improve labour employment. The study recommends that the government and policy makers should increase it's total expenditure on infrastructure and technology regardless of the low short term benefits as the long term impact would be enjoyed by every sector of the nation's economy, promote domestic and foreign investment and enhance the labor market participation.
