Browsing by Author "Agava, Halim Yusuf"

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    Advancing Property Investment Returns through Improved Urban Neighbourhood Infrastructure Conditions in Jos City
    (Faculties of Engineering and Environmental Sciences, Osun State University, Osogbo, Osun State, Nigeria, 2021-11-23) Adeogun, Adekunle Sunday; Shittu, Wasiu Oyewale; Agava, Halim Yusuf; Oladimeji, Samuel Bolaji
    Infrastructure is one of the substantial indicators of neighbourhood and urban quality; it possesses the capability to draw and sustain returns on property investment. This study focuses on the urban neighbourhood infrastructure conditions as a pointer to ideal residential property investment returns in Jos city, Nigeria. The study adopted a survey research design using structured questionnaires to gather the required data. The data required are property transaction data on rental value and capital value of residential properties and the conditions of basic infrastructure in the selected neighbourhoods of Jos city. These data were sourced from practicing Estate Surveyors and Valuers practicing in Jos as well as the residents of the selected neighbourhoods. The estimated sampled size was 251 and only 161 questionnaires were recovered. The data collected were analysed using descriptive and inferential statistics. They are mean score, standard deviation, coefficients of variation and Spearman’s Rank Order Correlation model. The results of the analysis revealed that residential property investment performed better in Gwang layout and Lowcosts than Rayfield and Kufong areas on the basis of risk-return. The risk-return ratios range between 8% and 38%. Rayfield and Kufong residential market showed high level market volatility indicating the risky nature of these property submarkets. Infrastructure condition indices in Rayfield and Kufong is higher than ideal condition index (Benchmark), ranging between 72%-89% and 81%-94%. Few urban neighbourhood infrastructure conditions in Gwang Layout and Lowcosts are found to be below the benchmark. The study concluded that infrastructure has a strong influence on residential property investment returns in the study areas. It therefore, recommended that infrastructure condition should be given special attention when forming opinion on residential property investment.
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    ADVANCING PROPERTY INVESTMENT RETURNS THROUGH IMPROVED URBAN NEIGHBOURHOOD INFRASTRUCTURE CONDITIONS IN JOS CITY
    (Faculty of Engineering and Environmental Sciences, Osun State University, Osogbo, Nigeria., 2021-12) Adeogun, Adekunle Sunday; Shittu, Wasio Oyewale; Agava, Halim Yusuf; Oladimeji, Samuel Bolaji
    Infrastructure is one of the substantial indicators of neighbourhood and urban quality; it possesses the capability to draw and sustain returns on property investment. This study focuses on the urban neighbourhood infrastructure conditions as a pointer to ideal residential property investment returns in Jos city, Nigeria. The study adopted a survey research design using structured questionnaires to gather the required data. The data required are property transaction data on rental value and capital value of residential properties and the conditions of basic infrastructure in the selected neighbourhoods of Jos city. These data were sourced from practicing Estate Surveyors and Valuers practicing in Jos as well as the residents of the selected neighbourhoods. The estimated sampled size was 251 and only 161 questionnaires were recovered. The data collected were analysed using descriptive and inferential statistics. They are mean score, standard deviation, coefficients of variation and Spearman’s Rank Order Correlation model. The results of the analysis revealed that residential property investment performed better in Gwang layout and Lowcosts than Rayfield and Kufong areas on the basis of risk-return. The risk-return ratios range between 8% and 38%. Rayfield and Kufong residential market showed high level market volatility indicating the risky nature of these property submarkets. Infrastructure condition indices in Rayfield and Kufong is higher than ideal condition index (Benchmark), ranging between 72%-89% and 81%-94%. Few urban neighbourhood infrastructure conditions in Gwang Layout and Lowcosts are found to be below the benchmark. The study concluded that infrastructure has a strong influence on residential property investment returns in the study areas. It therefore, recommended that infrastructure condition should be given special attention when forming opinion on residential property investment. Keywords: Residential, Returns, Property investment, Neighbourhood, Infrastructure, Property Market.
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    Residential property tenancy failure: the case of Ilorin metropolis, Nigeria
    (Tropical Journal of the Built Environment, College of Environmental Sciences, Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria., 2023-06-01) Tanimowo, N. B; Adebiyi, Ranti Taibat; Agava, Halim Yusuf
    The ability to sustain a tenancy is a key factor in maintaining stability for both individuals and families and the costs to those suffering tenancy failures encompass the whole of their lives. This study examined tenancy failure in the residential property market of Ilorin metropolis, Nigeria. The study adopted a survey research approach using structured questionnaires as instrument of data collection. Primary data were mainly employed and sourced from the sampled tenants within the metropolis. The data collected were analysed using mean scores and percentage; Cronbach Alpha, Factor Analysis and Relative Important Index. The study revealed, among others, that greater numbers of tenants in the study area have experienced tenancy failure at least once. The major causes of tenancy failure in the study area include breach of tenancy agreement, moving to own house, discrimination, and insecurity. The study also found that homelessness, loss of rent to landlord, and high cost of resettlement were the major consequences of tenancy failure in the study area. The study recommended, among others, that the identified causes and consequences of tenancy failure in this study should be given proper attention by the landlords, government, property managers in their decisionsmaking processes.
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    Residential Real Estate Investment Performance Evaluation in an Emerging Economy: A Look at North-Central Nigeria’s Real Estate Submarket
    (Tropical Journal of the Built Environment (TJOBE), 2023-06-01) Gamu, Faoziah Afolashade; Agava, Halim Yusuf; Adeogun, Adekunle Sunday
    Abstract This study analysed the performances of residential real estate investment in Minna property submarket of north-central Nigeria with a view to guiding real estate investors in decision making. The study adopted a survey research design to collect residential property transaction data and information from estate surveying and valuation firms as well as reputable estate agent offices in the study area. Index number, holding period return, modified value-at-risk and modified Sharpe ratio models were adopted for data analysis. The study found a progressive movement in rental and capital values of residential real estate in the study area within the study period (2007-2021). Residential real estate also showed positive performance in terms of total and risk-adjusted returns within the study period. The average combined mean total return on residential real estate investment across property categories and neighbourhoods in Minna metropolis for the period averaged 11.47% per annum. Investing in residential real estate investment in the study area was found worthwhile because there was a progressive growth in both rental and capital values. Returns on investment equally indicated positive performance when compared with risk-free investment asset in Nigeria. Thus, investors could include residential apartment in their investment portfolio for purpose of diversification. Study in this topic is conspicuously absent in Minna metropolis of north central Nigeria and this is the first known study to adopt the Cornish Fisher modified value at-risk and modified Sharpe ratio in analyzing real estate investment returns performance in Nigeria.