Impact of Slums on Value of Residential Properties in Jahi District of FCT, Abuja

ABSTRACT

Slums are residents for the lower income. earners, situated in proximity to the urban residents. These slums further poses some major challenges to well planned estates and housing units; such as air pollutions, habitations for criminals, flooding and reduce the values landed property around the area, which makes life uncomfortable for residential users . It is to this end that this study seeks to examine the impacts of slums on value of residential properties around Jall.j District of F.C.T Abuja. Towards achieving the desired · objectives, a fundamental research questions were asked; what are the effect of slums on property values and what are the determinants of property valu e? To answer these questions, the study adopted systematic method of sampling procedures and disseminated 296 questionnaires across the entire housing unit in both the slum areas and Jahi district, but only 220 questionnaires, where successfully retrieved _and analysed objectively without sentiments. After the analysis, the study discovered that values of property are greatly affected by slums activities and locations of resident/ estate will determine the price tag and valu e of the property. According to the Estate Surveyor & Valuers Opinion, the value of a land with measurement of 1200sqm within a slum affected · environment in Jahi District will worth a total sum of N25,000,000 in the open mark et but a similar plot of land in Jahi district that is not within a slum affected neighbourhood will command an open market valu e of N40,000,000 . The disparity on the prices is as a result of the environmental differences between the slum affected area and the unaffected areas within Jahi district Abuja. Therefoi.-e serious government intervention is needed towards spreading development across the entire environment, so as to reduce influx of migration into the urban r egion.