Estate Management &Valuation

Permanent URI for this collectionhttp://197.211.34.35:4000/handle/123456789/68

Estate Management &Valuation

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Author: search.filters.author.Kemiki Olurotimi AdebowaleStart date: 2020

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    Effect of Neighbourhood Crime on Residential Property Values: A Review of Literature
    (School of Environmental Technology, Federal University of Technology Minna, 2024) Alake Seye Samuel; Ayoola Adeyosoye Babatunde; Kemiki Olurotimi Adebowale; Sule Abass Iyanda; Ewerem Precious N
    The effect of Neighbourhood crime has a detrimental effect on residential property values, often discouraging investment in residential real estate. This paper presents a review of empirical studies on the effect of neighbourhood crime on property values. The purpose of the review is to summarise current knowledge about the influence of neighbourhood crime on residential property value. The literature was rigorously sourced from platforms such as Emerald, ScienceDirect, SAGE, and Google Scholar. The findings reveal a consistent inverse relationship between property crime and residential property values, with higher crime rates leading to decreased housing prices across various geographic contexts, including Europe and developing economies. Proximity to crime hot spots and incidents of burglary and vandalism significantly reduce property values due to safety concerns among buyers. Methodologies such as hedonic pricing models and regression analyses were frequently employed. The review observed the limited focus on the effect of crime on residential property values in developing economies. It is recommended that further research be carried out on the impact of neighborhood crime on residential property values in developing economies to better understand the unique aspects of this social issue. Government and relevant agencies should also focus on this area of study, as it can contribute to promoting sustainable housing solutions that support healthier living environments.
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    Determinants of Residential Property Location Choice of Tenants in Bosso and Chanchaga Local Government Areas of Minna, Nigeria
    (Faculty of Technology, Obafemi Awolowo University, Ile-Ife, Nigeria, 2020) Ayoola Adeyosoye Babatunde; Kemiki Olurotimi Adebowale; Popoola Naomi Ijadunola; Ojetunde Ismail; Oyedele J B
    This study investigates the determinants of residential location choice in Bosso local government area (LGA) and Chanchaga local government area (LGA) of Minna, Niger State, Nigeria. Structured questionnaires were administered on tenants who are household heads in the study area to weigh 15 factors that influence their choice of current homes. The discriminant function analysis was employed. The empirical results exhibit statistically significant and largest discriminant loading of factors such as availability of fence wall and large floor area of apartment (dwelling attributes) and location of property in a particular neighbourhood (neighbourhood attribute) as the determinants of residential location of tenants in the study area. The study therefore recommends that all stakeholders in residential property sector in the study area should ensure that building accommodation details are allocated adequate space to meet the needs of tenants and buildings are fenced before offer for letting. The study also recommends that policy makers and planners should ensure that efforts are geared toward restructuring of the unplanned neighbourhoods in Bosso and Chanchaga local government areas (LGAs) whilst maintaining and improving the available facilities and services in planned neighbourhoods. These to a great extent will proportionately enhance satisfaction and shape the residential location decisions of tenants resulting in maximum investment returns to all residential property investors across all the neighbourhoods in Minna.