Estate Management &Valuation
Permanent URI for this collectionhttp://197.211.34.35:4000/handle/123456789/137
Estate Management &Valuation
Browse
9 results
Search Results
Item Community participation in slum upgrading: A key to attainment of inclusive city(Community Participation Research Group (COPAREG), Federal University of Technology, Minna, Nigeria, 2018) Popoola Naomi Ijadunola; Ojetunde Ismail; Kemiki Olurotimi Adebowale; Ayoola Adeyosoye BabatundeUrban population explosions in the developing world have been attributed to proliferation and formation of slum particularly as a result of disproportionate provision of basic infrastructure. Infrastructure provision and maintenance has remained one of the major challenges facing the cities, most especially the slum settlements in the developing countries of the world. Inadequate financial resources in tackling many urban challenges have led to partial withdrawal of government from providing and maintaining basic neighbourhood infrastructure in the cities. It is therefore very evident that inclusive city cannot be achieved without effective community participation. It is in view of this that this study examined challenges facing slum settlements, benefits and shortcomings of residents’ participation in upgrading projects and framework for sustainable community participation upgrading project. The study concluded that the meagre community resources of slum dwellers in the face of economic recession are not sufficient to meet the development need of the slum, especially in the area of infrastructure refurbishment. The study, amongst others, recommended adoption of community-driven development approaches in upgrading projects in poor urban communities and adequate resource allocation to projects as effective tools for achieving social inclusion and attainment of desired inclusive city.Item Urbanization and Peri-Urban Development in Minna, Nigeria(School of Environmental Technology, Federal University of Technology, Minna, Nigeria, 2017) Popoola Naomi Ijadunola; Ojetunde Ismail; Kemiki Olurotimi Adebowale; Ayoola Adeyosoye BabatundeItem An Assessment of the Effect of Coastal Externalities on Residential Housing Prices in Badore, Lagos-Nigeria(School of Environmental Technology Federal University of Technology Main Campus, Gidan Kwano, Minna, Niger State, Nigeria, 2018) Ayoola Adeyosoye Babatunde; Akande Sheerifdeen OlaideThe paper employed hedonic price model in the estimation of the effect of coastal externalities on the rental value of residential property in Badore community of Lagos, Nigeria. Previous investigations on coastal community property values particularly in the developed economies have revealed that, proximate residential property to coastline areas have presented a worthwhile value to investors across the globe with those residential properties fronting the coastline outperforming those with reasonable distance from the coastline zones. Intrigued by this finding, the current study therefore undertook its investigations from two dimensional perspectives which are to determine if a similar result exists for Badore community, a coastal area in Ibeju-Lekki local municipality of Lagos State. Data was collected from 256 structured questionnaires completed by household heads who are tenants within 500 meters of the coastline in the study area. Model 1A-C accounted for the influence of coastal amenities and other housing attributes on rent. Model 2A-C accounted for the effect of the interaction between coastal amenities/disamenities alongside other housing attributes on rent. The results suggest that for a mean priced home (N224,846) at the mean distance from the coastline (282.96 m), a 1% increase in distance from the coastline would result in a 0.04%or N34.17 increase in rental value. When disamenity was controlled for in the entire- sample hedonic model, flooding further lower house rents in Badore by 0.12% (N94.56) for every 1% decreasing distance to the coastline.Item An Assessment of the Impact of Public Infrastructure on Residential Property Values in Minna(Joint International Conference Editorial Committee, 2016) Ayoola Adeyosoye Babatunde; Ojetunde Ismail; Kemiki Olurotimi Adebowale; Popoola NaomiThis study provides evidence on the value capitalization effect of public infrastructure in Minna. It employs rental transactions and datasets constructed from various secondary sources to provide information on geometric and spatial distribution of 4 groups of public infrastructure. Due to aggregation bias in these data sets, we utilize the quartile procedure to construct aggregate indices which capture the effect of the different infrastructure stock component but not infrastructure quality. The quartiles were used to compute location quotients for 12 a priori neighbourhoods, hence providing the basis for grouping and classifying neighbourhoods into low and high infrastructure neighbourhoods. A tenable statistical justification for this neighbourhood split by infrastructure is the Hodges-Lehman point estimate of shift (Δ) at 95.89 confidence level which is (−3.234,−11.072,−0.339) which revealed that the two classified neighbourhoods (low and high) are different. Findings revealed that geometric and spatial distribution of infrastructure is reasonably uneven across the study area. In addition, marked variability exists in quality of infrastructure between low and high-infrastructure neighbourhoods based on respondents‘ perceptual rating. The conjecture that high-infrastructure neighbourhoods have higher residential property values in contrast with that associated with low-infrastructure neighbourhoods was also found to be plausible. The capitalization effect of public infrastructure is evident in a falling market: high-infrastructure neighbourhoods significantly outperformed low-infrastructure neighbourhoods by N 14470, while in period of soaring property value, high-infrastructure neighbourhoods command N 57305.60 more than the low-infrastructure neighbourhoods. These findings have substantial implications for optimal location of public infrastructure and its capitalization into urban residential property value. To maximize this capitalization effect, policy makers and planners must efficiently allocate public infrastructure across space.Item Peoples’ Attitude toward Property Tax Payment in Minna(West Africa Built Environment Research (WABER) Conference. C/o School of Construction Management and Engineering University of Reading, Reading, UK, 2010) Ayoola Adeyosoye BabatundeThis work examines people’s attitude toward tax payment in Minna. Data were collected via sets of questionnaire and interview conducted in Minna, the capital of Niger state. Findings revealed that, 90.5% of the respondents pay tax generally, out of which 71.5% is personal income tax while property related taxes stood at 9.4%. Sampling people’s willingness to pay tax, 41.6% are willing to pay while 52.6% are not willing to pay. Property rate is the major property tax in operation in Minna. Severance tax, site value rating, special land taxes and betterment tax are not in operation in Minna. The respondents advanced reasons for their lack of interest in paying tax to include lack of awareness, ignorance, and corrupt government officials among others. The paper recommends measures for creating positive people’s attitude toward property tax payment and strengthening the existing property generated revenue with the view to accelerating development projects most especially at the local government level.Item Influence of Availability and Serviceability of Student Accommodation Facilities on Student Performance in Federal University of Technology, Minna(School of Environmental Technology, Federal University of Technology, Minna, Nigeria, 2019) Adama Unekwu Jonathan; Ocheja David; Ayoola Adeyosoye Babatunde; Ayuba Philip; Ogunbode Ezekiel BStudent accommodation facilities are provided by institutions of higher learning in order to enhance the academic experience of the students. Accommodation facilities provide the basis for quality tertiary education. Extant studies affirmed that adequacy of hostel facilities affect the academic performance of students residing in hostel. Although, most Nigerian tertiary institutions are characterised by inadequate hostel facilities. This study was conducted to assess the effect of availability and serviceability of hostel facilities on students’ academic performance at the Federal University of Technology Minna, Gidan Kwano campus. The total population of students residing in the hostels as at 2018/2019 session was 1,930. Systematic and convenient random sampling technique were used in selecting 219 students as the sample size for the study. Online survey was employed in administering questionnaire to the sampled students. The study found that 66.9% of the hostel facilities are available and serviceable while 32.9% are unavailable and unserviceable. Although, result of the study revealed that facilities such as study room, sport centres, internet service, air condition and study chair/table are unavailable and unserviceable in the hostels, students have continued to have good performance. The result further showed that only 26% of sampled students were below thirdclass division, while 162 students are in the category of second-class lower and above. The study recommends that the institution should ensure that adequate student accommodation facilities are provided in serviceable condition to further enhance student learning and good performance.Item Assessment of Households’ Satisfaction with Neighbourhood Facilities in Selected Residential Locations of Minna Urban(School of Environmental Technology, Federal University of Technology, Minna, Nigeria, 2016) Ayoola Adeyosoye Babatunde; Kemiki Olurotimi Adebowale; Adeniran Ayoade Adeleye; Abdulkareem SekinatOne of the challenges facing the cities of the world particularly in developing economies is unsustainable nature of housing. And as neighbourhood remains the utmost fundamental environmental unit for dweller’s social platform influencing his or her quality of life, it should be ascribed serious attention. This study examined the effects of seven neighbourhood facilities on households’ satisfaction across six residential neighbourhoods in Minna. Systematic random sampling technique was used to administer questionnaires to the household heads in the study area. Spearman’s rank correlation and multiple regression were statistical tools employed using SPSS Version 16.0 Statistical package. The study revealed a positive relationship between level of households’ satisfaction and neighbourhood facilities considered in F-layout and Bosso Estate with correlation coefficients of 0.689 and 0.529 respectively; positive relationship in Bosso Town, Tunga Lowcost and GRA with correlation coefficients of 0.465, 0.375 and 0.360 respectively; and negative relationship between the variables in Minna Central (-0.033 correlation coefficient). The correlation results confirms the regression analysis which reveals significant relationship (p values < 0.01) between households’ satisfaction and neighbourhood facilities in F-layout (R2=0.501), Bosso Estate (R2=0.230), Bosso Town (R2=0.205), Tunga Lowcost (R2=0.180) and GRA (R2=0.124)) and reverse relationship (p value > 0.01) in Minna Central (R2=0.000). The study recommends that neighbourhood facilities should be augumented with other public facilities and households or community residents should be involved in infrastructure input decisions that affect their neighbourhoods. This will improve residential neighbourhood satisfaction by the residents and also enhance property values.Item Factors Influencing Tenants’ Choice of Location of Residence in Bosso Local Municipality, Minna, Nigeria(Official refereed Journal of the African Real Estate Society, 2019) Oladapo Rashidat Adejoke; Ojo Babajide; Ayoola Adeyosoye Babatunde; Kemiki Olurotimi AdebowaleResidential location choice (RLC) is key to the pattern of urban development in any city. This paper investigates factors influencing the choice of residential location by tenants in Bosso Local Government Area (LGA), Minna. The objective of the paper is to establish the roles played by a variety of housing attributes, and thus the design is an analytical survey. Data was collected from 277 structured questionnaires completed by household heads who are tenants in Bosso LGA neighbourhoods. This data was further investigated through factor analysis to reduce the variety of housing variables to a smaller set of influential components. The results reveal that the principal component in the determination of residential location of tenants is dwelling attributes comprising of the number of bathrooms, number of toilets and number of bedrooms. In addition, the second principal component, named accessibility attributes, plays a modest role with proximity to a secondary school and/or primary school loading very high. The study recommends that property owners should respond to the desires of tenants by paying attention to the provision of the right ratio of bathrooms and toilets to the number of bedrooms. Also, urban planners and policymakers should efficiently allocate educational properties like secondary and primary schools across all the neighbourhoods in the study area. With these recommendations, it is hoped that residential locations across Bosso LGA will be equally attractive to tenants.Item Critical Factors Contributing to Rent Arrears in Residential Properties in Minna, Nigeria(European University of Lefke, Cyprus, 2018) Kemiki Olurotimi Adebowale; Ayoola Adeyosoye Babatunde; Ojetunde Ismail; Ogunbajo Rukayat Adeola; Kuma Shien StephenOptimum return appears to be a tangible motive of investors of real estate investments. This motive over the years has been bedevilled by rent defaults by renters of properties in the property sector. This situation, to Property Managers and their Principals is worrisome. It is on this basis that this study attempts to assess the factors influencing rent arrears in Minna residential property market. The study employs data on various aggregate factors such as management subsystem, economic factors, tenancy arrangement, dwelling unit features and external household attributes influencing rent payments. Cluster random sampling was used to administer questionnaire to renters of residential properties in Minna while simple random and purposive sampling techniques were used to administer questionnaires to property managers. Kendall Coefficient of Concordance and Chi-Square were statistical tools used. The result revealed that W = 0.601 which indicated a statistical evidence of a fair association in the ranking of the factors responsible for rent in arrears, while the average rank correlation of factors between all possible pairs of the towns rs = 0.521 indicating a weak agreement to the identified factors. There was evidence of variation among the factors responsible for rent arrears across the areas and the study also found there is no relationship between income level of renters and type of residential accommodation occupied. The implication of the study is that renters develop practical habit that discipline their finances and prioritize the scale of preference to live below their income level.