Problem statement: Real estate developers were consistently faced with the issue of making decisions on the types of property to invest their hard earned income or highly competitive secured mortgage funds, which were attached with high lending rates. One of the different sectors that are begging for such investment is residential property development. Approach: This study evaluated the effects of available infrastructure in residential property on its rental values in Akure, Ondo state, Nigeria. Two different sets of questionnaires were designed and administered for the collection of primary data used in the study. The first set of questionnaires was for the tenants of residential property while the second set of questionnaires was administered on the practicing estate surveyors based in Akure. The questions in the questionnaires amongst others probed into the types of available infrastructure in the rented apartment, rent paid, income of household-heads and family size. Primary data collected were subjected to multiple regression analysis and the determination of the effects of each of the available infrastructure (water, electricity, access road, kitchen, toilet, refuse disposal facility, wall fence, installed burglary proof, drainage channel, daywatch-security and nightwatch-security services) on the rental value was achieved. Results: The study revealed that infrastructural facilities contributed 30.50% in the determination of rental values of residential buildings in Akure; of which the provision of wall-fence round the building and the installation of burglary proof in all the windows played the most important infrastructure. Conclusion: Property developers that want to invest in residential buildings development should endeavour to provide these two infrastructure amongst others with a view to earn attractive rental values on their residential property in Akure in particular and towns and cities in developing countries
The increasing urban sprawl in most cities in developing countries continues to attract attention of national and international agencies but the efforts had not achieved much result at checking the sprawl. There is the need therefore to re-evaluate these efforts and make necessary suggestions that would reverse the trend. This study investigates the problems of urban sprawl in Nigeria. It utilizes published and unpublished materials as well as sundry informal investigations (i.e. observations) of the stakeholders in the development and management of urban sprawl in Nigerian cities. The paper presents the urbanization trends in Nigeria and discusses the characteristic features of urban sprawl in its cities as well as identifies the various factors responsible for the urban sprawl. It evaluates strategies adopted so far at curtailing the sprawl. A major limitation of the various strategies adopted is the inadequate involvement of the people (developers) at checking the sprawl. The paper therefore suggests a people-oriented strategy in checking urban sprawl in Nigerian cities; which is expected to be facilitated by the government planning officials.
Housing cooperatives are the organizations among others, which have played important roles in meeting the housing needs of people. In Nigeria, housing finance is through the formal and informal institutions; and personal residences accounted between 75 and 90 per cent of household wealth, that represents between 3 and 6 times their annual income. Finance is an important determinant of success and failure of housing ownership. It, therefore, becomes very necessary to identify viable sources of funding that can promote house-ownership. This paper examined the activities of Cooperative Societies in the provision of funds for house ownership in Nigeria with a focus on Akure. In the conduct of the social survey for the study; two sets of questionnaire were used. The first set of the questionnaire focused on House-owners and 683 sampled houses-owners were administered with the questionnaire in Akure. The second set of questionnaire was administered on the government officers' incharge of the administration of the cooperative societies in Akure. The answers to the questions in the questionnaire were adequately supplied. The data were subjected to statistical analysis. The findings revealed among others that the main sources of funding house buildings were through personal savings and Cooperative Societies among others. It recommended that prospective house-owners should be encouraged to form and patronise Cooperative Societies as a reliable source for the housing loan.
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