AN EXAMINATION OF THE EFFECT OF LOCATION ON RENTAL VALUES OF RESIDENTIAL PROPERTIES

ABSTRACT

This study examined the effect of location on the rental value of residential properties in Ikeja Local Government Area in Lagos State. Data used were derived mainly from secondary sources such as documents, including published literature, official documents, and media reports. Primary data were obtained from questionnaires administered to registered Estate Surveyors and Valuers, Estate Agents, landlords and residents of the study area. The purpose of the study is to analyse and determine the roles of location and neighborhood characteristics in the determination of rental value of residential properties, in other to achieve this, attempts were made to evaluate the role of location and neighborhood factors in the determination of house prices in the conceptual background to this study. The second chapter also examined the various property characteristics that have relatively strong impact on market values (prices) and to an extent influence the rent, sales and purchase decisions of accommodation seekers, sellers and buyers in Nigeria. The third chapter sets out the method and procedure employed in carrying out this project. The fourth chapter presents the results of the empirical and comparative analyses of the effect of location on the value of residential properties in Ikeja Local Government Area of Lagos State. It is concluded that neighborhood and location attributes show more importance on house values when smaller geographical housing units are examined. The recommendations of this study should enable individuals, Real Estate Professionals, investors and other stakeholders to make fair estimates of the market values of residential properties in Ikeja Local Government Area of Lagos State given the features of such housing units. This would aid rapid valuation, help to improve housing quality and make possible mass evaluation of properties.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPETR ONE

1.0 INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

2.0 LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix