Browsing by Author "Shittu, W.O."
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Item ADVANCING PROPERTY INVESTMENT RETURNS THROUGH IMPROVED URBAN NEIGHBOURHOOD INFRASTRUCTURE CONDITIONS IN JOS CITY(2021-11) Adeogun, A.S.; Shittu, W.O.; Agava, H.Y.; Oladimeji, S. B.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.Item ANALYSIS OF PREFERENCE FOR RESIDENTIAL NEIGHBOURHOOD IN ILORIN, NIGERIA(West African Built Environment Research, 2017) Adeogun, A.S.; Raheem, W.M.; Shittu, W.O.; Bako, A.I.There are hierarchies of residential neighbourhoods in human settlements depending on the quality, space and number of inhabitants among others. These, to a large extent dictate the choice of or preference for neighbourhood by the residents. This study is on the assessment of Residential Neighbourhood Preference of residents in Ilorin metropolis. Data for the study were collected using random sampling method from nine different neighborhoods in the order of low, medium and high residential densities. These are GRA, Adewole Estate, Onikanga axis (Low Density), Kulende, Basin and Fate-Tanke (Medium Density) Gaa-Akanbi, Oloje and Sango (High Density). The study employed primary and secondary data such as the quality of dwelling units in each neighbourhood, which highlights the state of individual houses, the physical structure and the quality of the environment. Also assessed was the accessibility to urban infrastructures. In all, questionnaires were administered on 300 respondents. Data were analysed using descriptive and inferential statistics. Descriptive statistics such as chi square, frequency and percentage were used to present results. Also, One Way Analysis of Variance (ANOVA) was used to examine the variation among the preferred facilities in the areas while Likert rating was used on residents’ preference for locational attributes. Preference level by residents across the study area indicated that the most preferred neighbourhoods are GRA, Adewole Estate and Onikanga axis; the fairly preferred are Kulende, Basin and Fate-Tanke while Gaa akanbi, Oloje and Sango are the least preferred neighbourhoods. It also revealed that, residents generally place more emphasis on social settings, proximity to and availability of urban infrastructure, neighbourhood quality and the quality of immediate surroundings, in the selection of their most preferred neighbourhood. The study recommended the execution of appropriate urban renewal strategies by the government in areas fairly and least preferred by residents to engender better habitation and enhance quality life