The Effectiveness of House Payment Plans on Property Acquisition Offered by Real Estate Developers In Tanzania: A Case of National Housing Corporation.

Mbilinyi, Levinico (2020) The Effectiveness of House Payment Plans on Property Acquisition Offered by Real Estate Developers In Tanzania: A Case of National Housing Corporation. Masters thesis, The Open University of Tanzania.

[thumbnail of DISSERTATION - LEVENICO YOHANA MBILINYI - FINAL.pdf] PDF - Submitted Version
Download (1MB)

Abstract

Real estate developers are aimed at constructing houses for selling or renting and in achieving that, the real estate developers adopts various house payment plans for customers to acquire properties. This study examined the effectiveness of house payment plans on property acquisition that are offered by real estate developers in Tanzania; a case of NHC. The specific objectives were to assess the effectiveness of cash payments, installments, mortgage financing and tenant purchase in real property acquisition. Multidimensional research design were used and the data were collected by distributing questionnaires to 90 NHC house buyers who are residing in Dar es Salaam and through interviewing NHC staff. The study used Time Value of Money theory and Customer preferences theory and the findings were analyzed descriptively by using frequencies, percentages presented through tables and pie charts. By comparing all the four house payments plans in respect to their effectiveness on NHC clients’ perspective, the findings revealed that, majority of clients who are equivalent to 86% argued that tenant purchase is relatively more effective in purchasing NHC houses followed with installments payment plan by 82% of the all respondents. On the other side about 52% of all the respondents argued that mortgage financing is relative effective in purchasing NHC houses followed by cash outright by only 7%. Most of the clients are proposing for extension of the payment plans to cover for longer period than the existing plans basically for installments plan and cash outright house payment plan. The study recommended on the extension of the payment period, the charge of reasonable interest rate and the flexibility of the house payment plans in general. Keywords: Property acquisition, installment payment, tenant purchase, mortgage financing, outright/cash payment

Item Type: Thesis (Masters)
Subjects: 600 Technology > 658 Gerneral management
Divisions: Faculty of Business Management > Department of Accounting and Finance
Depositing User: Mr Habibu Kazimzuri
Date Deposited: 01 Jun 2021 07:48
Last Modified: 01 Jun 2021 07:48
URI: http://repository.out.ac.tz/id/eprint/2884

Actions (login required)

View Item View Item
The Open University of Tanzania Institutional Repository is powered by EPrints 3 which is developed by the School of Electronics and Computer Science at the University of Southampton. More information and software credits.