Assessment of the impact of development control measure on residential property rental values in Minna Metropolis

  • A.S. Adeogun
  • S Nasiru
  • M.B. Wahab
  • Raheem Wasiu
  • O.A. Kemiki
Keywords: Development Control, Residential Property, Rental Value

Abstract

The study determined the impact of development control on the trend in rental of property in Minna. Data for the study were from residents of the neighbourhood, estate surveyors and valuers, town planners and personal observation through questionnaire. Cluster random sampling technique was adapted to divide the area into residential neighbourhoods; and furthermore, a purposive sampling technique was used because of the residential property characteristic. The data were analysed using inference statistical tools like Gini-co-efficient, correlation and multi-regression analysis among others. The resultant outcome showed that there is a strong positive relationship between development control measures and residential property rental values and also development control measures are not adequately enforced in the planned and unplanned neighbourhoods. It was recommended that estate surveyor and valuer's should advise their clients on the need and importance of investing in neighbourhood that have harmonious land use in order to easily recoup the huge capital outlay invested on residential property development and government should adopt new trends like the guided land development (GLD) and sustainable city programme (SCP). This will provide advancement in the frontier of investment in residential property development through proper execution of development control measures.

Keywords: Development Control, Residential Property, Rental Value

Published
2018-09-17
Section
Articles

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print ISSN: 1596-6305