Exploring Sustainable Real Estate Finance Barriers to Sustainable Development Goals (SDGS) Attainment and Economic Growth

Sani Inusa Milala and Khadijah Binti Md Ariffin
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Sani Inusa Milala: Faculty of technology Management and Business, Department of Real Estate and Facilities Management, Universiti Tun Hussein Onn Malaysia, 86400, Parit Raja batu Pahat, Johor Malaysia
Khadijah Binti Md Ariffin: Faculty of technology Management and Business, Department of Real Estate and Facilities Management, Universiti Tun Hussein Onn Malaysia, 86400, Parit Raja batu Pahat, Johor Malaysia

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 4, 12-43

Abstract: The real estate sector plays a crucial role in Nigeria’s economic growth and urban development. However, the attainment of Sustainable Development Goals (SDGs), particularly SDG 11 (sustainable cities and communities), remains a challenge due to barriers in accessing sustainable real estate finance. Limited green financing options, high costs of sustainable building materials, weak policy frameworks, and the low adoption of Environmental, Social, and Governance (ESG) principles hinder the transition to environmentally friendly real estate practices. These barriers negatively impact economic growth, climate resilience, and sustainable urban development, necessitating a comprehensive study to explore solutions. This study aims to investigate the challenges and economic implications of sustainable real estate finance in Nigeria and propose strategic solutions for overcoming these barriers. The study employs a mixed-method approach, utilizing qualitative and quantitative data from reputable databases, policy documents, and industry reports. A thorough literature review and data analysis are conducted to assess the role of financial institutions, government policies, and technological innovations in facilitating green real estate investments. Findings reveal that the lack of financial incentives, inadequate regulatory enforcement, and minimal investor confidence significantly contribute to the slow adoption of sustainable real estate practices. Additionally, integrating climate finance mechanisms and developing innovative funding models can enhance sustainable urban growth. The study highlights the potential of government incentives, public-private partnerships, and technology-driven solutions in overcoming financing challenges. The impact of these findings underscores the need for structural financial reforms and policy enhancements to foster a sustainable real estate sector. implementing targeted solutions, Nigeria can achieve economic stability, increase green investment, and align its real estate industry with global sustainability standards. In conclusion, addressing these challenges through strategic financing models and regulatory improvements will drive long-term urban resilience and economic development in Nigeria.

Date: 2025
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