Influencing Factors of Property Use Conversion and Residential Properties Rental Value Trend in Ikeja, Nigeria

The paper determines the influence of property use conversions on residential property rental value performances in Ikeja, Nigeria. Previous studies have shown that a multiplicity of use conversion characterizes Nigeria urban centres, hence, threatening the cordial relationship among the property market participants, rental value performances, distorting city aesthetic and morphology. The rapidity of this trend is alarming, thus call for the urgent attention of land/city managers, spatial planner, government and other stakeholders to address its attendant problems. Quantitative data, using questionnaire survey, were collected and used for the study. The influence of property use conversion factors on residential property rental value performances in the study area was determined using a predictive model. Findings of the study show that about 67% of use conversion activities in Ikeja can be explained through the fusions of the conversion factors in the predictive model with 96% influence on residential property rental values. It was further observed that there exist increasing cases of default in rent payment due to the conversion activities and intensive competition for property uses especially properties with locational advantages. The paper advocates for strict implementation of all relevant sections of urban property use related laws in the state to ensure compliance with existing laws and appropriate monitoring of property development and uses that will help in the achievement of sustainable city development and liveability in the post pandemic era

Influencing Factors of Property Use Conversion and Residential Properties Rental Value Trend in Ikeja, Nigeria

The paper determines the influence of property use conversions on residential property rental value performances in Ikeja, Nigeria. Previous studies have shown that a multiplicity of use conversion characterizes Nigeria urban centres, hence, threatening the cordial relationship among the property market participants, rental value performances, distorting city aesthetic and morphology. The rapidity of this trend is alarming, thus call for the urgent attention of land/city managers, spatial planner, government and other stakeholders to address its attendant problems. Quantitative data, using questionnaire survey, were collected and used for the study. The influence of property use conversion factors on residential property rental value performances in the study area was determined using a predictive model. Findings of the study show that about 67% of use conversion activities in Ikeja can be explained through the fusions of the conversion factors in the predictive model with 96% influence on residential property rental values. It was further observed that there exist increasing cases of default in rent payment due to the conversion activities and intensive competition for property uses especially properties with locational advantages. The paper advocates for strict implementation of all relevant sections of urban property use related laws in the state to ensure compliance with existing laws and appropriate monitoring of property development and uses that will help in the achievement of sustainable city development and liveability in the post pandemic era

Comparative Analysis of the Risk-Return Characteristics of Office and Shop Property Investments in Osogbo, Nigeria

This study aims at examining the risk-return characteristics of commercial real estate investments in Osogbo Nigeria. Primary data used for this study was obtained through questionnaire survey. A total enumeration survey of all the estate surveying and valuation firms in the study area was carried out. The data collected was used to calculate the income, capital and total returns on investments in commercial properties in Osogbo. Furthermore, descriptive statistics was used to determine the asset returns and asset risk of the selected investment assets. This involved the use of weighted means, percentages and Standard deviations. The study revealed that investments in commercial properties in the study area provided a continuous positive rate of returns ranging between 3.12% and 34.35% while the corresponding risk ranged between 1.50% and 10.11%. The investment information provided in this study has significant implication for both local and foreign investors desiring to invest in the Nigerian property market. Keywords: Asset, Return, Risk, Investment, Portfolio