Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria

The global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impact of the global economic meltdown on property development in Bauchi, Nigeria. Data for the study are mainly primary in the form of questionnaires administered. The study had property development as an endogenous variable while a high-interest rate and unemployment rate as exogenous variables to measure the constructs. Multiple Regression were used to analyze the data. Among the study, findings are that high relationship exists between the two predictor variables (High-Interest Rate & Unemployment Rate) and dependent variable (property Development) where ‘R’ of 0.724 means the correlation is about 72 %; with R2 of 0.052 indicate that 5.2 % correlation, the analysis also depict in coefficient table that high-interest rate has more influence on dependent variable (PD) than unemployment rate. The analysis signified that the impact of the global economic meltdown has a positive effect on the dependent variable. Based on the findings, the study recommended governments and financial institutions intervention to curb the impediment of property development in Bauchi, Nigeria

Analyzing Variables in Wheel of Participation a Synergy in Facilities Management for Enhancing Academic Performance

This study analyzed variables in the wheel of participation advocated by Davidson (1998); in this study, wheel of participation is adopted as synergy in facilities management for the maintenance of university community infrastructure and facilities, to examine the effects of synergy by the local community and the university authority in facilities management for enhancing academic performance in Abubakar Tafawa Balewa University, Bauchi (ATBU). 100 questionnaires composed on 5 level-Linkert scales were randomly distributed, Reliability analysis was conducted to check the level of internal consistency among the measuring items, while Multiple Regression Analysis and Structural Equation Modelling with AMOS simultaneously analyzed the effects of the exogenous variables (information, consultation, participation & empowerment) on the endogenous variable (academic excellence) in ATBU. Estimates of the structural model revealed that information sharing, consultation with stakeholders, participation by local community members and empowering stakeholders do not influence academic excellence. While the regression analysis indicated a weak relationship between all the four predictor variables and the academic excellence; and with R2 of 0.029 meant that the predictor variables accounted for only 2.9 % of the variance on academic excellence, thus, 97.1 % is accounted for by other variables not covered in this study. Further studies are recommended to supplement more predictor variables like students´ talent, intuition, flair, willingness to learn (zeal), finance and so on; using the inductive approach

Non-implementation of property rating practice, any impact on community healthcare in Bauchi Metropolis Nigeria?

The practice of rating real estate is essentially an internal revenue source, synonymous to tenement tax levied on the owner/occupier. Property rating in Nigeria is bedevilled by many factors that impeded its smooth implementation and operation, thus, this form of taxation yields zero revenue in Bauchi, due to failure of implementation. This study is aimed at measuring the impact of non-implementation of property rating on community healthcare in Bauchi metropolis of Nigeria. Two hundred and fifty (250) closed-ended questionnaires composed in five-level Likert scale were distributed to professionals in the field of real estate and facilities management, in the academia and estate firms, and two hundred and twenty one questionnaires (221) were mailed back for analysis. The Structural Equation Modelling (SEM) in IBM version of SPSS with AMOS was used to establish relationship between the variables. Findings from this study reveals that PRP does not command direct impact on community healthcare services, however, the services financed by property rating in the area of sanitation and sewage cleaning has the tendencies to curb the occurrence of diseases like cholera and malaria. Thus, it can be understood that a fully institutionalized practice of property rating could avert the outbreak of diseases

Measuring Residents Satisfaction Levels of Public Housing in Maiduguri Metropolis of Borno State, Nigeria

This study aims to evaluate the residents’ satisfaction with public housing in the Maiduguri metropolis. The study assessed the levels of quality of housing components, occupants' preference and satisfaction. The study adopted a quantitative approach and data were collected through a questionnaire survey from 265 household heads of the housing estate proportionately selected from the target population in Maiduguri metropolis. The data collected were subjected to descriptive and inferential statistics with mean ranking, frequency distribution and multiple regression analysis to achieve the research aim. The study showed that quality of building component, Condition of a bedroom, condition of living room, condition of the roof, condition of finishing and condition of the kitchen were ranked as very good and condition of the store, condition of the dining area, condition of garage and condition of toilets were good in the study area, while public housing quality and preference significantly influence occupants' satisfaction in Maiduguri metropolis. The research recommended that occupant peculiarities should be integrated into the design and development of housing estate. This will ensure that the satisfaction of the occupants is well co-opted in the development and therefore lead to higher satisfaction and functionality of the estates. The provision of facilities and amenities in public housing estates should be based on the occupant requirements and peculiarities. This will lead to the optimal utilization of the estate after development

Framework of property rating practice for financing neighborhoods facilities provision in Bauchi Metropolis Nigeria

The deplorable condition of neighbourhood facilities in Bauchi metropolis persists, while the initiative aimed at raising local revenue to maintain and redevelop the local facilities has not been implemented. Property rating is one of the most stable source of local revenue, which if harnessing can finance the provision and maintenance of community infrastructures. This study has examined the existing condition of neighbourhood facilities and evaluated the most significant factors that militated against the implementation of property rating. The study has collected quantitative data, and used SPSS for reliability and exploratory factor analysis; and applied Structural Equation Modelling (SEM) with Analysis of Moment Structure (AMOS) for the analysis of the measurements and the structural models. The results showed that ‘Over-Reliance on Crude Oil Revenue’ and ‘Poor Taxation System’ are the most important factors hindering the implementation of property rating. And that the ‘Lack of Political Will’ is a factor that remarkably influenced the condition of the neighbourhood facilities in the study area. In conclusion the study has proposed Land area-based assessment for rating valuation, using Google Earth/Map for area measurement. The proposed framework was envisaged to be cost-effective in rating valuation. It was recommended that the government should diversify revenue sources from oil-based to harness all the avenues like property rating at the municipal level. Future studies should find out, apart from ‘Over Reliance on Crude Oil Revenue’ and ‘Poor Taxation System’, whether some other factors do militate against the implementation of the property rating in the study area

SWOT analysis of land area-based and value-based property rating

The property rating can be on Value-based rating Assessment (VbRA) or Area-based Rating Assessment (AbRA). This study examined the suitable assessment of Bauchi metropolis, Nigeria. The materials used were published books and journal articles, and SWOT technique was applied to analyse the identified variables, then the strengths, weaknesses, opportunities and threats were sorted out. The facts from the SWOT matrix were assimilated into existing local scenario to strategically decide the appropriate assessment procedure for raising the local revenue for financing the provision and maintenance of municipal infrastructure and facilities. The study found Area-based Rating Assessment (AbRA) as the most appropriate rating assessment procedure for the study area

Premium arrangement in the contemporary real estate transaction in Bauchi

The premium arrangement in the real estate enables lessors to receive a lump sum of money and forfeit a part of rental income, while the lessee enjoys some profit rents. This transaction was not operational in the study area. This study investigated the position of the lessor on the awareness and practice of premium arrangement on the real estate transaction in Bauchi metropolis, using multiple regression and structural equation modelling with AMOS graphics. The analyses (both) multiple regression and structural equation modelling with AMOS revealed that the awareness and practice of premium arrangement in Bauchi metropolis have been a factor that can significantly influence the real estate transactions with corresponding benefits to both lessors and lessees in the study area. It was therefore recommended that the parties’ privy in the premium transaction to acknowledge the benefits to the lessor appeared to out-weigh the benefits to the lessee, thus the parties should be enjoined to comply with the existing rules and covenants of their leas

Impediments to the Implementation of Property Rating in Bauchi Metropolis, Nigeria

Property Rating Practice (PRP) is globally recognized as potential and lucrative source of revenue to local governments; PRP is doing pretty well in Europe, America and Asia, its performance in most African countries is not satisfactory. This paper identified the factors that impedes the implementation of property rating in Bauchi metropolis, Nigeria. The methodology used includes literature and questionnaire survey; the questionnaire were administered by simple random sampling to respondents across twelve neighbourhoods in the metropolis, other respondents came from the Ministries of Lands and Housing, Environment and Sanitation as well as professionals in the field of real estate valuation and management. The descriptive and inferential statistics like frequency table and Structural Equation Modelling were used in the analysis to determine whether identified factors really impedes the implementation of property rating; and whether the factors have any relationship with provision of neighbourhood facilities and services in Bauchi metropolis of Nigeria. The results of the findings indicated that ‘Over-reliance on Crude Oil Revenue’ and ‘Poor Taxation System’ are the leading factors that hinders the implementation of PRP in Bauchi metropolis of Nigeria. Keywords: Property Rating Practice, Neighbourhood facilities and Bauchi Metropolis, Nigeria

Effect of Service Charge Administration on Occupants’ Satisfaction and Aesthetic Quality in Kaduna, Nigeria

Service charge is essential for buildings to enable them recoup the return on investment, aesthetic quality, safety, satisfaction and durability amongst others, such that the property is kept in habitable condition at all times. However, prolong neglect and poor maintenance culture of property is manifesting in various degrees and majorly amidst public properties in Nigeria. Hence, this study investigated the effect of service charge administration on occupants’ satisfaction and aesthetic quality among multi tenanted office building in Kaduna with a view to ensuring effective service charge delivery. To achieve the goal, the study was handled statistically utilizing a descriptive and cross-sectional study design, as well as a survey method employing questionnaires as data collecting devices. The population for the study comprised of tenants of BOI Building and Turaki Ali House making up a sample frame of 222 tenants with a sample size of 160. Data collected were analyzed using Partial Least Square Structural Equation Modeling ..

Analyzing area-based rating assessment implementation in Bauchi Metropolis, Nigeria, testing SWOT variables

The Area-based Rating Assessment (AbRA) entails assessing the real property for rating purposes on the basis of the land area only. This study analyzed the implementation of AbRA in Bauchi metropolis, experimentally by testing the helpful factors under both internal and external variables; and subsequently, by testing the harmful factors under the internal and external variables all derived from SWOT analysis, and measuring their effects on the endogenous variable (AbRA). The study derived major themes from SWOT analyses, whose variables under each theme were used as measurement items or sub-themes for the primary data collection. Structural Equation Modelling was used to analyze the impact of the variables on the implementation of AbRA in the study area. It was found that the area assessment required the limited data to conduct the rating assessment, and did not necessarily require periodic revaluation to update the valuation list with the volatilities in value, thus, making AbRA to demand less cost of administration. It was also found that, information on land area can be collected remotely without entry into the individual properties, the process did not defy the residents’ privacy, also, the remote data collection could be done using tools like Google Earth/Map which allowed the ease of reconnaissance and faster inspections and measurements, hence, this study recommended the area-based rating assessment (AbRA) for Bauchi metropolis of Nigeria