School of Environmental Technology (SET)

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School of Environmental Technology (SET)

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    A CATEGORICAL MODELLING APPROACH FOR DETERMINING RENTAL HOUSE PRICES IN LOW-INCOME NEIGHBOURHOODS OF NORTH-CENTRAL NIGERIA
    (Adekunle Ajasin University, Akungba-Akoko, 2022) Rukaiyat Adeola Ogunbajo; Rakiya Ibrahim Wali
    Over the years, researchers in developing countries have applied varied methodologies to study housing attributes and house prices. This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in a major town in North-Central Nigeria. A total of 827 housing units were sampled by stratified and random selection. The data used were generated through a questionnaire survey. 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 revealed that the identified housing attributes significantly predicted rental values for the sampled house types. The mean of predicted rental values was 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. This suggested a reasonably accurate prediction of rental house prices using the categorical regression approach. The study recommended the model to house managers to ensure accurate house pricing.
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    Determining House Prices in Low Income Neighbourhoods of North-Central Nigeria: A Categorical Modelling Approach.
    (2022) Ogunbajo, R. A; Olabisi S. A.; Wali R.I
    In recent times, researchers from social and behavioural sciences in developing countries have 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 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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    THE RELATIONSHIP BETWEEN ROAD INFRASTRUCTURE BUDGETARY EXPENDITURES AND COMMERCIAL PROPERTY INVESTMENT RETURNS. CASE STUDY OF FADIKPE AREA MINNA, NIGERIA
    (RIGA TECHNICAL UNIVERSITY, 2020) Suleiman YAKUBU; Ajayi ADEYEMI; Abass SULE; Rukaiyat OGUNBAJO
    The paper examines the relationship existing between commercial property investment returns and public capital investment (budgetary expenditures) on road infrastructure in Fadikpe area, Minna (Nigeria) with the aim of determining the degree of impact of public capital investment on commercial property investment returns. The paper addresses a pertinent policy and practice question on the impact of government’s budgetary expenditures on real estate sector of the economy. Government increasingly faces funding challenges in providing new infrastructure or improvement of existing ones, thus, keen to know the areas of greater impact of its expenditures and the extent to which the benefits from the impact may go in augmenting or providing funds (through tax) for new road infrastructure provision or repair of existing ones. The research uses the before-and-after case method to identify an increase in property values (rental and sales) as measured by the trend of property investment returns before-and-after budgetary expenditures. The results show that commercial property investment returns in the area increased after budgetary expenditure (road construction) took place. The results form the basis upon which the government should consider more budgetary allocations and expenditures related to road transportation infrastructure in its budgetary allocation decisions. The results also quantify the proposed alternative source of funding (property tax) that can be harnessed via capturing the increase in property investment returns.
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    CRITICAL FACTORS CONTRIBUTING TO RENT ARREARS IN RESIDENTIAL PROPERTIES IN MINNA, NIGERIA
    (European University of Lefke, 2018) Olurotimi Adebowale KEMIKI; Adeyosoye Babatunde AYOOLA; Ismail OJETUNDE; Rukayat Adeola OGUNBAJO; Shien Stephen KUMA
    Optimum 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.
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    SPATIAL VARIATIONS IN RESIDENTIAL PROPERTY DEVELOPMENT IN BIRNINKEBBI, NIGERIA
    (BAHIR DAR UNIVERSITY, ETHIOPIA, 2015) OGUNBAJO, R. A.; AJAYI, M. T. A.; USMAN B. S.; WALI R. I
    Shelter is a basic necessity of man. The location and spatial distribution of residential accommodation across towns and cities are however subject to a variety of factors. This study aimed at analysing spatial variations in residential property development across BirninKebbi. The relevant population comprised housing units in three (3) major areas. Primary data were obtained through interactions and interviews conducted with residents of the study area as well as questionnaire administered. A comprehensive survey of the area was also carried out and observations were noted. Analysis of data was done using simple descriptive statistics. The study revealed that household level of income is the most prominent factor considered by 53% of residents of Patrick Aziza when choosing areas for residential property development, while proximity to work place is the most influential factor for 50% of Gesse residents. In Badariya, residential location choices are most influenced by religious and ethnic affiliations (30%), security of eighbourhood (29%), and cost of land (27%). The study further revealed varied intensities in residential property development across the three sampled areas and explained reasons for these variations. In addition, the implications of residential expansion in the study area was thoroughly examined, while emphasizing the need for appropriate measures to ensure that the health, safety and wellbeing of inhabitants are not compromised in an attempt to fulfill the housing needs of the people.
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    Housing Affordability by Federal Civil Servants in Minna, Nigeria: Emerging Issues.
    (Canadian Centre of Science and Education, 2015) Ogunbajo A. Rukaiyat; Suleiman Yakubu; Fabunmi O. Foluke; Ojetunde Ismail
    In Nigeria, the 1999 constitution recognises housing as a fundamental human right; hence it is imperative that Nigerians have access to decent and comfortable accommodation at affordable costs. This study examined housing affordability by Federal Civil Servants in Minna by analysing the average annual emoluments of federal civil servants and the annual rental values of houses occupied by them, and subsequently established the percentage of annual income spent on rent. A total of 200 federal civil servants spread across all grade levels were sampled. Simple descriptive statistic, likert scale, relative index and pearson product moment correlation were used to analyse collected data. Findings showed that federal civil servants in the study area spend between 7.3% and 23.8% of their annual income on rents. The study also revealed that civil servants’ level of income having a relative index of 0.96 is the major factor influencing the choice of residential accommodation by federal civil servants in the study area. It further revealed a strong positive correlation between their annual income and rental values of residential properties occupied by them. The sampled respondents expressed varied levels of satisfaction with the houses they occupy, with as much as 59% being unsatisfied with their rented housing units; these were attributed to poor housing quality, small sizes of housing units and densely populated neighbourhoods, among others. Housing Affordability Index was also adopted and used to determine housing affordability levels in the study area. The study recommended a home ownership scheme to enable federal civil servants purchase or build their own houses and pay conveniently because all respondents desired to own their own houses.
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    The Relationship between Residential Property Development and Property Tax generation in Ibadan North, Oyo State
    (Canadian Centre of Science and Education., 2014) Ajayi M. T. A.; Ogunbajo A. Rukaiyat; Sule I. Abass; Abdulkareem Sekinat
    This paper examined the relationship between residential property development and property tax generation in Ibadan North Local Government, Oyo State- Nigeria. Data on residential properties within the Local Government for an eleven year period (1999 – 2010) was obtained from the appropriate planning authority, while records of property taxes generated within the same eleven year period was sourced from the taxing authority within the local government. Regression analysis was used to examine the degree and nature of relationship that a change in the number of residential properties will have on the generation of property taxes. Results showed that the actual property tax paid in Ibadan North Local Government Council is being influenced by the number of residential buildings within the council at about 59.3% variation. This implies that a positive variation in the number of residential buildings within the council will lead to a positive variation in the actual property tax generated. Investigation further revealed that this revenue option is however not fully utilized as payments of these taxes are not fully enforced by the taxing authority. It is therefore paramount that the local government seeks for means of improving its tax base through effective property taxation, thus increasing funds available for community development projects such as electrification, road construction, drainages and other essential utilities.
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    Generating Revenue through Property Tax: The Implication on the Attitude of Commercial Property Occupiers in Jos North Local Government
    (Elixer Publishers, 2013) Ajayi M.T.A; Ighalo J.I; Ogunbajo R.A
    Property tax is gradually becoming a major source of revenue for local councils in Nigeria. However, in generating revenue through property tax there is the need for local councils to consider the attitude of the residents within their jurisdiction to payment of the property tax in order to encourage public participation in the usage and the collection of the property tax. The methodology of study therefore is based on the questionaire distribution of 0.00035% of the population of the study and analysed with multivariate analysis. The multivariate analysis examined the payment of property tax as an independent variable against three dependent variables which are Awareness of Property tax, willingness to pay if property tax is splited into forms and willingness to reside or shift location if the property tax is reviewed upward. The result of the study suggest that with a calculated alpha level of 0.024 which is less than 0.05, commercial property occupants in this local government will shift location if the property tax is reviewed upward. It is the recommendation of the study therefore, that there will be the need for local government to set up a machinery to monitor the attitude of the residents as this findings may be different in other local government areas.
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    Assessing the Effects of Rental Default by Commercial Property Occupiers on Property Management in Minna, Niger State, Nigeria
    (Josepy Ayo Babalola University, 2023) Zainab Adetoro-Folorunso; Rukaiyat Adeola Ogunbajo
    One of the fundamental roles of a property manager in the property management process is his ability to collect rent on behalf of his client (landlord); rent is collected and given to the landlord to enable him to meet his investment needs. When rent arrears occur this could hinder the property owners or managers from attaining their objectives for investing in real estate. This paper fundamentally looks at the effect of rental default by commercial property occupiers on property management with experience from Minna, Niger State which is the study area. Thirty-eight property managers in the study area were surveyed with a structured questionnaire, twenty-eight were returned with a response rate of 74%. Data collected were analysed using descriptive statistical tools, analysis of the primary data depicts eleven (11) effects of rent defaults on commercial property management, of these eleven effects, income loss, reduction of annual rental yield and delay in payment of agent dues with an average means score of 3.91, 3.87, and 3.83 respectively, were ranked as the three most significant effects. The study recommended that property managers and owners should make adequate insurance provisions to protect themselves against rent arrears. Additionally, whenever any tenant fails to meet up with the agreement provided in the tenancy agreement without any genuine reason should be made to face the law.
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    A Categorical Modelling Approach for determining Rental House Prices in Low- Income Neighbourhoods of North-Central Nigeria.
    (Adekunle Ajasin University, Akungba-Akoko,, 2022) Ogunbajo R.,A.; Wali R.I.
    Over the years, researchers in developing countries have applied varied methodologies to study housing attributes and house prices. This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in a major town in North-Central Nigeria. A total of 827 housing units were sampled by stratified and random selection. The data used were generated through a questionnaire survey. 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 revealed that the identified housing attributes significantly predicted rental values for the sampled house types. The mean of predicted rental values was 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. This suggested a reasonably accurate prediction of rental house prices using the categorical regression approach. The study recommended the model to house managers to ensure accurate house pricing.