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Effects of Infrastructure on Property Values in Unity Estate, Lagos, Nigeria

Ajibola, M. O. and Awodiran, O. O. and Salu-Kosoko, O. (2013) Effects of Infrastructure on Property Values in Unity Estate, Lagos, Nigeria. International Journal of Economy, Management and Social Sciences, 2 (5). pp. 195-201. ISSN 2306-7276

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Abstract

Property is a bundle of rights whose value is determined by the interplay of various factors classified into accessibility, environmental, neighbourhood and property characteristics. This study assessed the effects of infrastructure on property values in Unity Estate in Lagos Metropolis. Questionnaire was administered on all the 510 households in the study area while 204 (40%) was retrieved and used for the study. Presentation and analysis of data was done using frequency tables and percentages. Also relative importance index was adopted in ranking the infrastructure in order of importance attached to them by the respondents. The study revealed that majority of the respondents are tenants who have been living in the study area for a long time and whose opinion about rental issues within the estate can be relied upon. The study also revealed that blocks flats (62.6%) are common in the study area. Furthermore, the study revealed that water (RII = 2.97), electricity (RII = 2.52) and roads (RII = 2.40) are ranked as the most important facilities required in the estate. On the strength of the findings, the study recommends that facilities within the estate need serious upgrade to further enhance the living conditions of the residents.

Item Type: Article
Subjects: T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Olusola Ajibola
Date Deposited: 10 Mar 2015 21:15
Last Modified: 15 Sep 2015 20:33
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/3710

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