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DISAMENITY RISKS AND PROPERTY INVESTMENTS IN LAGOS, NIGERIA.

Akinjare, Omolade and Ajibola, M. O. and Oloyede, Samuel A. and Oluwunmi, Adedamola O (2014) DISAMENITY RISKS AND PROPERTY INVESTMENTS IN LAGOS, NIGERIA. In: 7th International Real Estate Research Symposium (IRERS), IBIMA International Conference, 29th and 30th of April, in Selangor, Malaysia.. (Unpublished)

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Abstract

Disamenities such as High Voltage Overhead Transmission Lines (HVOTLs) otherwise refered to as power-lines, have greatly facilitated property value diminution. This study tries to capture the impact of power-lines on residential property values within Lagos metropolis. Questionnaires were distributed to 139 registered Estate Surveying firms and 605 persons residing along and within a 200m perpendicular distance to power-lines in Surulere and Alimosho Local Government Council Areas of Lagos Metropolis. Interviews with the managers and field officers of PHCN sub-stations in the study area were also conducted while data were analysed using analytical statistics. The study revealed that power-lines and its associated risks were found to affect rental values of residential properties within high brow Surulere while no effect was recorded for residential properties in suburban Alimosho. The study ecommends the use of buried armour cables as alternative to power lines and the strict enforcement of the right-of-ways where power-lines exist within the Lagos metropolis and generally across the nation. Keywords: HVOTLs, Risk elements, Residential property, Rental value, Estate Surveyors

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Dr. Adedamola Olufunke/ A. O. Oluwunmi
Date Deposited: 03 Apr 2015 21:24
Last Modified: 09 Oct 2015 08:53
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/4576

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