11 research outputs found
Willingness to pay for intangible environmental amenities in Anguwan Rogo-Anguwan RIMI, JOS, Nigeria
Get PDFReal estate is a package that extend beyond dwelling home but encompasses social, neighbourhood and environmental amenities and characteristics. The provision of basic amenities and services to accommodate the increasing population is among the major challenge of successive government in Nigeria. The property or rental values are influenced by residents’ willingness to pay (WTP) for both neighbourhood and environmental amenities or characteristics. The aim of this dissertation is to evaluate the tenant willingness to pay for intangible environmental amenities in Anguwan Rogo-Anguwan Rimi Jos, Nigeria. A questionnaire survey was used with 389 household as total respondents, only 369 questionnaire were return and used for analysis. Among the 11 environmental variable, only 4 are found as amenities to be improved in the study area. Correlation analysis was used to find the relationship between monthly income and the willingness to pay for environmental variables. Among the 11 variables, only 3 seem to have significant relationship with the monthly income. This are electricity, household size and educational standard. The rental model was developed of willingness to pay environmental amenities using hedonic pricing concept, were the R value is 0.98 and the adjusted R2 value is 0.96 meaning that 96% of variance in WTP is predicted by all the 12 variables. The F value is 749.71 which is statistically significant. Out of the 12 independent variable, 7 variables are statistically significant. These includes improved drainage, air quality, water supply, waste dump site, accessibility, natural lightening as well as improved security with t value of 14.69, 7.43, 2.28, 23.61, 22.85, 26.94 and 9.72 respectively. It was recommended that the model can be used to evaluate tenant’s willingness to pay for environmental amenities in Anguwan Rogo-Anguwan Rimi Jos, Nigeria
Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria
Get PDFThe global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impact of the global economic meltdown on property development in Bauchi, Nigeria. Data for the study are mainly primary in the form of questionnaires administered. The study had property development as an endogenous variable while a high-interest rate and unemployment rate as exogenous variables to measure the constructs. Multiple Regression were used to analyze the data. Among the study, findings are that high relationship exists between the two predictor variables (High-Interest Rate & Unemployment Rate) and dependent variable (property Development) where ‘R’ of 0.724 means the correlation is about 72 %; with R2 of 0.052 indicate that 5.2 % correlation, the analysis also depict in coefficient table that high-interest rate has more influence on dependent variable (PD) than unemployment rate. The analysis signified that the impact of the global economic meltdown has a positive effect on the dependent variable. Based on the findings, the study recommended governments and financial institutions intervention to curb the impediment of property development in Bauchi, Nigeria
Urban Sprawl and Land Speculation in Contemporary Land Administration in Bauchi Nigeria
No full textUrban sprawl and land speculation in Bauchi is ever on the rise and posed problems like high cost of infrastructure, farmland invasion, high commuter cost as well as real estate unattractively developed in patchy and strung out manner. This study investigates the impact of urban sprawl and land speculation on land administration in Bauchi metropolis, using multiple regression analysis and Partial Least Squares (SmartsPLS). Both urban sprawl and land speculation significantly influenced land administration, but land speculation alone tremendously influenced land administration as it accounts for 82% of the variance in the endogenous variable. Two-rate property tax is therefore recommended for curbing land speculation in the study area
Measuring Residents Satisfaction Levels of Public Housing in Maiduguri Metropolis of Borno State, Nigeria
Get PDFThis study aims to evaluate the residents’ satisfaction with public housing in the Maiduguri metropolis. The study assessed the levels of quality of housing components, occupants' preference and satisfaction. The study adopted a quantitative approach and data were collected through a questionnaire survey from 265 household heads of the housing estate proportionately selected from the target population in Maiduguri metropolis. The data collected were subjected to descriptive and inferential statistics with mean ranking, frequency distribution and multiple regression analysis to achieve the research aim. The study showed that quality of building component, Condition of a bedroom, condition of living room, condition of the roof, condition of finishing and condition of the kitchen were ranked as very good and condition of the store, condition of the dining area, condition of garage and condition of toilets were good in the study area, while public housing quality and preference significantly influence occupants' satisfaction in Maiduguri metropolis. The research recommended that occupant peculiarities should be integrated into the design and development of housing estate. This will ensure that the satisfaction of the occupants is well co-opted in the development and therefore lead to higher satisfaction and functionality of the estates. The provision of facilities and amenities in public housing estates should be based on the occupant requirements and peculiarities. This will lead to the optimal utilization of the estate after development
Premium arrangement in the contemporary real estate transaction in Bauchi
No full textThe premium arrangement in the real estate enables lessors to receive a lump sum of money and forfeit a part of rental income, while the lessee enjoys some profit rents. This transaction was not operational in the study area. This study investigated the position of the lessor on the awareness and practice of premium arrangement on the real estate transaction in Bauchi metropolis, using multiple regression and structural equation modelling with AMOS graphics. The analyses (both) multiple regression and structural equation modelling with AMOS revealed that the awareness and practice of premium arrangement in Bauchi metropolis have been a factor that can significantly influence the real estate transactions with corresponding benefits to both lessors and lessees in the study area. It was therefore recommended that the parties’ privy in the premium transaction to acknowledge the benefits to the lessor appeared to out-weigh the benefits to the lessee, thus the parties should be enjoined to comply with the existing rules and covenants of their leas
Post Occupancy Evaluation of Students' Hostel Facilities in Abubakar Tafawa Balewa University Bauchi
Get PDFThe study aimed to assess the level of students' satisfaction with the hostel facilities in the Gubi Campus of Abubakar Tafawa Balewa University Bauchi to evaluate the performance of the hostels. A survey approach was used to collect relevant data for the study. Two hundred forty-three students were selected to participate in the study using a systematic random sampling strategy. Data were analysed using both descriptive and inferential statistics. The study revealed that the students were delighted with the alternative power supply, artificial lighting, and the room's natural lighting. It was also found that students were dissatisfied with the bathroom facilities, handheld fire extinguishers and toilet facilities. The result of the ANOVA revealed that there is no significant difference among the students occupying different blocks of hostels regarding their satisfaction with the facilities provided similarly. The result of the t-test showed that there is no significant difference between male and female students in satisfaction with the hostel facilities offered
Analyzing area-based rating assessment implementation in Bauchi Metropolis, Nigeria, testing SWOT variables
No full textThe Area-based Rating Assessment (AbRA) entails assessing the real property for rating purposes on the basis of the land area only. This study analyzed the implementation of AbRA in Bauchi metropolis, experimentally by testing the helpful factors under both internal and external variables; and subsequently, by testing the harmful factors under the internal and external variables all derived from SWOT analysis, and measuring their effects on the endogenous variable (AbRA). The study derived major themes from SWOT analyses, whose variables under each theme were used as measurement items or sub-themes for the primary data collection. Structural Equation Modelling was used to analyze the impact of the variables on the implementation of AbRA in the study area. It was found that the area assessment required the limited data to conduct the rating assessment, and did not necessarily require periodic revaluation to update the valuation list with the volatilities in value, thus, making AbRA to demand less cost of administration. It was also found that, information on land area can be collected remotely without entry into the individual properties, the process did not defy the residents’ privacy, also, the remote data collection could be done using tools like Google Earth/Map which allowed the ease of reconnaissance and faster inspections and measurements, hence, this study recommended the area-based rating assessment (AbRA) for Bauchi metropolis of Nigeria
SWOT analysis of land area-based and value-based property rating
No full textThe property rating can be on Value-based rating Assessment (VbRA) or Area-based Rating Assessment (AbRA). This study examined the suitable assessment of Bauchi metropolis, Nigeria. The materials used were published books and journal articles, and SWOT technique was applied to analyse the identified variables, then the strengths, weaknesses, opportunities and threats were sorted out. The facts from the SWOT matrix were assimilated into existing local scenario to strategically decide the appropriate assessment procedure for raising the local revenue for financing the provision and maintenance of municipal infrastructure and facilities. The study found Area-based Rating Assessment (AbRA) as the most appropriate rating assessment procedure for the study area
Price Model for Transit-Oriented Developments in Kuala Lumpur, Malaysia
No full textThe idea of Transit Oriented Development (TOD) was to foster urban development around railway networks and has been strategically built and applied since the late 19th and early 20th centuries. Previous studies reported positive, negative, or irrelevant impact of TOD on prices of surrounding real estate. The study aims to evaluate the impact of TOD on property prices in Kuala Lumpur. It utilizes secondary data obtained from the National Property Information Centre (NAPIC), Malaysia, after data cleaning, Nine Thousand Five Hundred and Forty-Nine (9549) Housing Transactions between the periods 2009 and 2018 were used. The research design was quantitative, and the Hedonic Price Model (log-log model) was used for data analysis. The model revealed a multiple correlation coefficient (R) of 0.891 and an adjusted R2 value of 0.794, indicating that 79.4% of the house price variation is explained by the model. The F value of 996.921, which is statistically significant, indicates that the predictors significantly combine to predict the price of TOD areas in Kuala Lumpur. The coefficient for LnTrainsta is 0.056, indicating that there was a positive relationship between residential house prices and TOD in Kuala Lumpur; this explains that house prices increase by 5.6% for every 100 meter closer to the rail transit station
