Journal Article10.4172/2151-6200.1000010
Analysis Of The Relationships Of Infrastructural Facilities In The Determination Of Rental Values Of Residential Properties In Akure, Nigeria
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TL;DR: In this paper, the authors investigated the available infrastructural facilities in residential properties in Akure, Nigeria and analyzed their influence in the determination of the rental values of the properties.
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Abstract: Housing represents the most basic of human need and it has a profound impact on the health, welfare, and productivity of individuals. For housing to produce these impacts, it must be adequately provided with functional infrastructure. In Nigerian urban centres, these basic infrastructure have suffered major neglect over a long period of time in the hands of government and its different agencies that are expected to provide and maintain the infrastructure. Therefore, property developers are responsible for the provision of the infrastructure in their properties which have increased the development cost of the properties. For the property developers to continue to invest in property development, the rental values of the property must continue to be attractive to allow developers recoup back the investment on such property. This study therefore investigated into the available infrastructural facilities in residential properties in Akure, Nigeria and analysed their influence in the determination of the rental values of the properties. Akure was divided into four residential zones and one hundred and ninety tenants were randomly selected for interview. Eleven infrastructural facilities were identified as peculiar to residential properties in Akure. The study employed multiple regression model to determine the influence of the infrastructural facilities in the rental values of the property while the step-wise analysis revealed that wall-fence and installed burglary proof are significant determinants of rental values of residential properties in Akure. However, Pearson’s Product Moment Correlation Coefficient matrix was used to verify the significant level of the independent variables. The study concluded that although other infrastructural facilities are also necessary but residential property developers should essentially ensure the provision of these two infrastructural facilities in order to attract higher rental values.
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Citations
•Posted Content
Residential Housing Rental Values and Infrastructural Development in Osogbo, Nigeria
Daniel Ibrahim Dabara,Ankeli Ikpeme Anthony,Makan juola Dare Gambo,Lawal Kabir Omotoso,Oladejo Michael Agidi +4 more
TL;DR: Olujimi et al. as discussed by the authors examined the available infrastructural facilities in residential properties in Osogbo with the aim of evaluating their impact on the rental values of residential properties.
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•Journal Article
Rental Analysis of Residential Properties in Close Proximity to the Federal University of Technology, Akure, Nigeria
Abstract: This research analyzed the rental values of residential properties within the neighbourhood of the Federal University of Technology, Akure (FUTA). It examined among others the relationship between students’ population off-campus and the rental values of proximate residential properties, and the factors that influence the rental values of residential properties within the neighbourhood of the institution. The data for the study was collected through structured questionnaires from twenty (20) registered Practicing Estate Surveyors and Valuers in Akure and from the Student Affairs Division of FUTA. The data collected were analyzed using Descriptive Statistics (Weighted Mean Scores and frequency tables and graph) and Inferential Statistics (Correlation Coefficient). The study revealed that the major factors often discovered from relevant literature to determine rental values of residential properties such as facilities and condition of repairs among others were the least ranked within the neighbourhood of FUTA. The study also revealed that there was a positive relationship between the population of students of FUTA living in the private rented sector and rental values of selected residential properties over the years. This indicates that demand pressure from students and residents contribute immensely to the changes in rental values within the area. It is therefore recommended that government and higher educational institutions should be encouraged to make a clear and definite statement concerning the provision of on-campus accommodation. Also, likely impacts of higher educational institutions on local rental market should be integral to the establishment and expansion plans of every higher institution. Keywords: Higher Educational institution, Proximity, Residential Property, Rental Values.
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Emphasizing Landscape Elements as Important Components of a Sustainable Built Environment in Nigeria
TL;DR: In this paper, the authors examined the poor state of many residential areas in the built environment in Nigeria and the impact on the physical outlook and concluded that landscaping plays a vital role in achieving a sustainable built environment and therefore need to be incorporated in the Nigerian built environment.
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Willingness to pay for intangible environmental amenities in Anguwan Rogo-Anguwan RIMI, JOS, Nigeria
Abdulazeez Adam Muhammad
- 01 Jun 2016
TL;DR: In this paper, the authors evaluated the tenant willingness to pay for intangible environmental amenities in Anguwan Rogo-Anguwan Rimi Jos, Nigeria, using a questionnaire survey with 389 households and only 369 questionnaire were return and used for analysis.
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Assessment of the effect of urban infrastructure as a tool for enhancing the values of residential property in Akure
TL;DR: In this paper, the effect of urban infrastructure as a tool for enhancing residential property values in Isolo/Araromi/Odokoyi and Irowo/Odenige/Oddopetu in Akure was investigated.
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