School of Environmental Technology (SET)

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School of Environmental Technology (SET)

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    Determining house prices in low income neighbourhoods of north-central nigeria: a categorical modelling approach.
    (University of Sao Paolo, 2022) Ogunbajo, R. A.; Olabisi S. A; Wali R.I
    Research shows that the most widely used estimates of the impacts of housing attributes on house prices are derived from hedonic models. The hedonic model assumes that the prices of dwelling units is composed of a number of factors, thus using a regression analysis, the impacts of each of these factors often measured on numeric scales can be estimated. However, researchers from social and behavioural sciences in developing countries have recently begun to look in the direction of the quality of the influencing housing attributes on house prices. These attributes are best measured qualitatively on ordinal and/or nominal scales. As such, an important development in multidimensional data analysis is the optimal assignment of quantitative values to qualitative scales. This form of optimal quantification (scaling, scoring) is a general approach to treat multivariate categorical data (Srijan, 2009). This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in North-Central Nigeria. The categorical regression model uses the optimal scaling methodology as developed in the Gifi system to quantify categorical variables according to a particular scaling level, thus “transforming” categorical variables into numeric variables. Having adopted + 10% precision and 90% confidence level, a total of 1,134 housing units were sampled by stratified and random selection. The data used were generated through questionnaire. Nine housing attributes were found to sustain residential buildings in the study area and these accounted for 45% and 61% variance in the rental prices of two major low income house types. Results suggested that the identified housing attributes significantly predicted rental values for the low income house types. The mean of predicted rental values were further computed for each house type and compared to the means of the actual rental values collated in the course of data collection and presented with line graphs. Results showed predicted values that are reasonably similar to the actual rental values of the dwelling units. Thus suggest a reasonably accurate prediction of rental house prices using the categorical regression approach.
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    Assessment of the Contribution of Environmental Attributes to Residential Property Rental Value in Abuja
    (Environmental Technology and Science Journal,ajol.info, 2022) Ayeni O. F.,; Kemiki O. A.,; Popoola N.; Musa H. D.
    The contribution of environmental attributes in residential price determination is premised on the issue relating to inefficient attributes pricing. The study analysed three environmental attributes such as structural, neighbourhood and natural attributes of the environment with a view to determining its hedonic value upon which residential property price is derived. In order to achieve the aim of the study, a sample size of 2401 was drawn out of 104166 properties using estimation method; 50% estimation rate and precision range of ±4 were adopted in estimating the sample size. The study administered two set of structured questionnaires; one to Estate Surveyor and Valuer firms to collect data on rental values (2008-2019) and second questionnaires were administered on the respondents to collect information on condition of environmental attributes using the census and simple random sampling method technique. Hedonic regression was employed to analyse the data. Environmental attributes were scored based on current condition and ratio scale was used alongside the average property value. The result revealed that neighbourhood attributes contributed between 60.3% -71.6%, natural attributes contributed between 60.3%-71.7% while structural attributes contributed between 66.8%-75.1% in determining the property values across the selected areas. The result of mixed regression analyses further revealed that environmental attributes contributed about 70.1% in determining the value of property in the selected areas. Environmental attributes such as natural and man-made water supply, road, quality wall-structure and floor, landscape, bathroom and streetlight contributed significantly in the determination of property values across the study areas. The study therefore concludes that the value of environmental amenity should be captured in the price of residential properties close to it. It is recommended that every stakeholders in the built environmental advocate for quality and even distribution of common environmental facilities that are key to development of property market in Nigeria.
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    Effect of Neighbourhood Crime on Residential Property Values: A Review of Literature
    (School of Environmental Technology, Federal University of Technology Minna, 2024) Alake Seye Samuel; Ayoola Adeyosoye Babatunde; Kemiki Olurotimi Adebowale; Sule Abass Iyanda; Ewerem Precious N
    The effect of Neighbourhood crime has a detrimental effect on residential property values, often discouraging investment in residential real estate. This paper presents a review of empirical studies on the effect of neighbourhood crime on property values. The purpose of the review is to summarise current knowledge about the influence of neighbourhood crime on residential property value. The literature was rigorously sourced from platforms such as Emerald, ScienceDirect, SAGE, and Google Scholar. The findings reveal a consistent inverse relationship between property crime and residential property values, with higher crime rates leading to decreased housing prices across various geographic contexts, including Europe and developing economies. Proximity to crime hot spots and incidents of burglary and vandalism significantly reduce property values due to safety concerns among buyers. Methodologies such as hedonic pricing models and regression analyses were frequently employed. The review observed the limited focus on the effect of crime on residential property values in developing economies. It is recommended that further research be carried out on the impact of neighborhood crime on residential property values in developing economies to better understand the unique aspects of this social issue. Government and relevant agencies should also focus on this area of study, as it can contribute to promoting sustainable housing solutions that support healthier living environments.
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    Analysis of Urban Crime in Maitumbi Neighbourhood, North-Central Nigeria
    (Environmental Technology and Science Journal, 2018-12-15) Medayese, S.O.; Kemiki, A.O.; Shaibu, S.O.; Alonge, D. O