Footnote:
In: International Journal of Business and Management Studies, 05(01):87–96 (2016)
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 25, 2016 erstellt
Description:
Real estate markets in developing economies like Nigeria is observed to be generally characterized by market immaturity and lack of relevant data for investment analysis. This study attempted to fill one of these gaps by analyzing the impact of infrastructural facilities on the rental values of residential properties in Osogbo and Ede, Osun State Nigeria with a view to providing information that can guide real estate investors in making informed investment decisions. In this study, questionnaire survey was used to obtain data from the field. The structured questionnaires were administered on household heads (lease occupiers/tenants) and practicing Estate surveyors and Valuers in the study area. The random sampling technique was adopted for the household heads while a total enumeration survey was carried out on the estate surveyors and valuers. Descriptive statistics (frequency, mean, percentages) and inferential statistics (Spearman's rank correlation and multiple linear regression analysis) were used to examine the relationships between the criterion variable (rental values) and the predictor variables (infrastructural facilities). The study indicated that there was a high positive correlation between the variables (0.905), implying that there is a strong positive relationship between rental values and availability/condition of housing infrastructural facilities. Out of the eight tested predictors, it was only refuse dump and fence that does not significantly predict rental values in the study area. The study further revealed that appropriate housing infrastructural facilities enhanced the rental values of residential properties in the study area. The study concluded by recommending among others, that property developers' should consider putting in place appropriate housing infrastructural facilities in their rental properties to ensure maximum returns from their investment