The study was carried out to examine Urban Renewal exercise and its effect on residential property values in Oke-Aro and Odopetu neighbourhoods in Akure, A structured questionnaire was administered on selected residents in the two neighbourhoods (Oke-Aro and Odopetu) using the Systematic Random Sampling Technique. Five hundred and sixty eight (568) questionnaires were administered, out of which four hundred and forty eight (448) were retrieved. The retrieved questionnaires were analyzed using Multiple Linear Regression Technique. The result showed an increase in rental value of residential properties due to upgrading of urban infrastructures in the two neighbourhoods. It is recommended that the state government should embark on comprehensive rehabilitation/upgrading of infrastructures instead of concentrating on road network and drainages only in the neighbourhoods.

The paper examined the effect of vacancy rate on the rental returns of shopping centres in six major retail areas in Akure. Data on rental values and vacancy rates in 35 shopping centres were collected from 17 estate surveying firms in Akure. The shopping centres had a total number of 1,352 rentable spaces with 1,183 occupied. The data was analysed using Descriptive statistics such as frequency distribution tables and graph, one sample t -statistics and Simple Linear Regression Analysis. The result showed that vacancy in shopping centres are on the increase especially in Oke ijebu axis of Akure thereby causing a decline in the expected returns from the centres. The result further showed that as vacancy rate in shopping centres increases the rent per meter square reduces as owners tends to reduce rent to retain tenants. There is need for shopping centre developers to employ the services of the Estate Surveyors and Valuers to carry out feasibility and viability appraisal of their projects before embarking on them. This gesture will check over supply of centres.

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