IMPACT OF HIGHER INSTITUTION ON ITS NEIGHBOURING RESIDENTIAL PROPERTY MARKET

ABSTRACT

This project examines the impact of higher institution on its neighbouring residential property market. Part of the objectives was to identify the trend of rental values of property market located close to the higher institution. To achieve this, residents were contacted and their opinions were gotten through questionnaires issued. A total number of hundred (100) questionnaires were issued and seventy (70) were retrieved with response rate at 70%. The use of frequency distribution tables was used to analyze data and results showed that insufficient hostel accommodation has led to increase in rent of property of its neighbouring property market.

The study recommends among other things that increase in numbers of students accommodation will reduce demand pressure on available accommodation.

TABLE OF CONTENTS

Title Page…………………………………………………………………………….i

Certification……………………………………………………………………….....ii

Dedication …………………………………………………….…………………….iii

Acknowledgement…………………………………………...………..………..........iv

Table of Contents……………...……………………………………………………..vi

List of Tables…………………..……………………………………………….........

List of Figures……………………………………………………………………..…

Abstract………………………….……………………………………….….....….. ..

CHAPTER ONE: INTRODUCTION

1.1 Background to the Study .......................................................................................... 1

1.2 Statement of the Problem ......................................................................................... 6

1.3 Aim and Objectives ...................................................................................................7

1.4 Justification of the study…………………………………………………………...7

1.5 Scope of the Study………………………………………………………...………..8

1.6 Limitations of the Study……………………………………………………………8

1.7 Significance of the study.............................................................................8

1.8 Definition of Terms.....................................................................................9

CHAPTER TWO: LITERATURE REVIEW

2.1 Concept of Property………………….…...................................................................11

2.2 Types of Residential Property……………………....................................................12

2.3 Concept of Value……………………….…..............................................................13

2.3.1 Types of Value…………………………………... ...............................................14

2.4 Theories of Rent………………………....................................................................15

2.4.1 Types of Rent………………………………….....................................................15

2.4.2 Factors affecting Rental values in Study Area…… ..............................................16

2.4.3 Determination of Rental Values…………………. ...............................................17

2.5 Student Housing Market………………....................................................................18

2.6Location and Choice of Accommodation...................................................................19

2.7 Types of Student Housing………………….............................................................19

2.8 Student Housing Demand …………………………................................................20

2.9 Housing Markets Segments………………………………………………………20

CHAPTER THREE: RESEARCH METHODOLOGY AND STUDY AREA

3.1 Introduction ..............................................................................................................22

3.2 Sources of Data Collection........................................................................…………22

3.3 Sampling Technique .................................................................................................23

3.5 Sample Frame and Size ...........................................................................................23

3.6 Method of Data Analysis …….................................................................................23

3.7 Study Area …………………...................................................................................23

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction .............................................................................................................26

4.2 Distribution of Questionnaires....................................................................................26

4.3 Respondents’ Occupation ..........................................................................................27

4.4 Types of Residential properties occupied by respondents ......................................27

4.5 Respondents’ Occupancy Status...............................................................................28

4.6Availability of infrastructural Facilities in the Study Area......................................29

4.7 Respondents’ Mode of Payment of Rent...................................................................30

4.8 Respondents’ perspective on factors that have impact on rental value……………………………………………………………….................................30

4.9 Extent of Growth of Student Housing Demand……………………...….………...31

4.10 Comparative trend of Rental values of Aba-Erinfun and Ijan-Ekiti……..............32

4.10.1 Trend of Rental values of Aba-Erinfun………………………….……..............32

4.10.2 Trend of Rental values of Ijan-Ekiti…….……………………….……..............34

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary....................................................................................................................35

5.3 Conclusion ................................................................................................................35

5.4 Conclusion ................................................................................................................35

REFERENCES ...............................................................................................................36

APPENDIX I………………………………………………………………………....38

APPENDIX II………………………………………………………………………...42