IMPACT OF FEASIBILITY AND VIABILITY APPRAISAL ON REAL ESTATES DEVELOPMENT OUTCOME IN BAUCHI METROPOLIS

ABSTRACT This study examines the impact of feasibility and viability appraisal on real estate development outcomes in Bauchi Metropolis. Feasibility and viability studies are essential tools for evaluating the financial, technical, legal, and market conditions of proposed development projects before implementation. The research investigates how the use—or neglect—of these assessments influences project performance, profitability, and sustainability. A descriptive survey research design was adopted, and data were collected from 125 respondents, including estate surveyors, estate agents, and property owners within the study area. Structured questionnaires were used for data collection, and the responses were analyzed using descriptive statistical tools such as frequency distribution, percentages, and mean ranking. Findings revealed that feasibility and viability studies significantly influence real estate development outcomes by reducing financial risks, improving resource allocation, and increasing the likelihood of project completion. The study also found that many failed or abandoned projects in Bauchi Metropolis result from inadequate pre-investment analysis, poor cost estimation, and lack of professional input during the planning stage. Furthermore, the study confirms that developers who ignore feasibility studies often experience unplanned financial risks and reduced project success rates. The study concludes that feasibility and viability studies are indispensable for achieving successful, profitable, and sustainable real estate development in Bauchi Metropolis. It recommends that developers, investors, and government agencies should adopt and enforce comprehensive feasibility and viability assessments before embarking on any real estate project.