DATA SHARING : A CRITICAL FACTOR FOR ESTATE SURVEYING AND VALUATION PRACTICE IN NIGERIA

The study examines the barriers to data accessibility on the operation of the property market, in the field of estate surveying and valuation. The study was conducted using questionnaires, administered on practicing Estate Surveyors and Valuers, within Lagos Metropolis. The study revealed that lack of data sharing is a major barrier to valuation consistency, particularly with transactions on residential ‘properties where evidence of past transactions are very important. The study further revealed that members of the Nigerian Institution of Estate Surveyors and Valuers need, just like RICS, UK, join hands together and create a strong databank just like the Investment Property Databank (IPD),that can be used by anyone that require such information, even at a token

Estate surveyors and valuers’ perception and methods of wetland valuation in Lagos metropolis

The study examined the relationship between Estate Surveyors and Values’ perception and wetland valuation method(s). A total of 267 questionnaires were administered on the respondents out of which 163 (representing 61%) were retrieved and used for the study analysis. Both descriptive and inferential statistical tools were used in the analysis of the data. The study hypothesis was tested, using regression analysis, analysis of variance (ANOVA) and coefficient of determination. The hypothesis showed that, there is no statistically significant relationship between Estate Surveyors and Value’s perception and the method(s) used in wetland valuation. With R2 value of 0.026, F-ratio of 0.084 and P>0.05 indicates that Estate Surveyors and Value’s perception does not really affect the approaches used in valuing wetlands. This could have emanated from the fact the respondents neither have any training in environmental valuation either in school or at the professional examinations. It is thereby recommended that NIESV and ESVARBON should encourage more workshops on wetland (environmental) valuation in addition to its inclusion in the professional syllabus as it is the current practice in higher institutions offering estate management courses

Informal Land Delivery System in Lagos State,Nigeria

There is a growing body of research concerned with the relationship between informal land delivery system and housing development in Lagos State. Studies originate from a diversity of sources, and encompass a variety of geographic scales and locations. To add to this diversity, many different characteristics of urban form as well as land acquisition patterns have been examined. This paper brings together informal land delivery system and housing development systematic patterns over the last 20 years. This paper is divided i~to three sections in the area of the existing modes of land accessibility; variations in land market transactions under different cultural and social influences and practical attributes that make land transaction arrangements better suited to society's needs. The study found that informal land delivery system is more effective in delivering land for housing, because of its user-friendly characteristics and social legitimacy. The study recommended that the informal processes of subdivision of family land for sale should be based on approved layouts to ensure the reservation of access ways and sites for social facilities. Finally, the issue of security of tenure and the harassment encountered by developers from the "Omo-onile" should be addressed by both the local and state government

Rent Control and Residential Property Values in Lagos State Nigeria

Prior to 1997, arbitrary rent increases, unlawful ejection of tenants, Lengthy and un-ending Litigations between Landlords and tenants were rampant in Lagos State, Nigeria. This dictated the intervention of Lagos State Government through the promulgation of the Rent Control and Recovery of Residential Premises Edict, which stipulates, inter alia, specific method to be adopted in determining residential property values. This research examines the statutory method of detem1ining standard rent under the edict, and adopts the multiple-comparison and analysis of variance techniques to determine the relationship between statutory and open market rents. It discovers that rent control has no impacts on rental prqperty values in the study area. It therefore concludes that government intervention through control of rent would injure the urban poor it sets out to protect and recommends that government should hands off control of rent on houses government has not produce

AN EXAMINATION OF CONTEMPORARY METHODS FOR ASSESSING COMPENSATION IN NIGERIA

The issue of compensation and how it is determined under the provisions of the Land Use Act of 1978(LUA)and its a application has been a major source of concern to professionals, academia in the real estate sector and Nigerians at large. This study examined the application of contemporary (environmental) valuation methods like contingent approach to determining compensation. One hundred and twenty (120) questionnaires were administered on claimants in Owiwi community whose farmlands and/or buildings were acquired for constructing the dam. Also questionnaire were administered on the eighteen (18) registered Estate Surveyors and Valuers in Ogun State. Both descriptive and inferential statistical tools were used in analysing the data collected from the respondents. The study revealed that the conventional approaches provided for by the statutes only captured the use values at the expense of non use values. The study therefore recommended a review of the statutes and the adoption of contingent valuation method for compensation valuation

Neighborhood Citizen Participation in Environmental Planning and Management in Lagos State:The Estate Surveyors' View

Sound environmental planning is in the interest of the society and as such those whose neighborhoods are being planned must be carried along through intensive participation as provided for in the existing environmental planning legislations. In the opinion of the general public, this is not seen to be entirely the case in Lagos State. Therefore, this paper is a study into existing planning legislations in Lagos State with emphasis on the opportunities provided for citizen participation. The paper attempts a critic of environmental planning approaches between and among the Town Planning Authority and land owning families in Alimosho Local Government Council Area of Lagos State to date. In-depth interviews were carried out between and among various built environment professionals and six land owning families in the study area. The study shows that land-owning families are only interested in how much they can realize from sale of plots of land as against establishing sustainable neighbourhoods. Land speculators still carry out estate layouts with impunity without complying with approvals earlier obtained from the Town Planning Authority as it affects the road width, plot sizes, etc. The study suggests the need to introduce environmental awareness education as early as nursery school to undergraduate levels in college. This is to ensure early awareness that could lead to active participation of the youth as they grow up to become community leaders, industrialists, academia, and other interest groups

DISAMENITY RISKS AND PROPERTY INVESTMENTS IN LAGOS, NIGERIA.

Disamenities such as High Voltage Overhead Transmission Lines (HVOTLs) otherwise refered to as power-lines, have greatly facilitated property value diminution. This study tries to capture the impact of power-lines on residential property values within Lagos metropolis. Questionnaires were distributed to 139 registered Estate Surveying firms and 605 persons residing along and within a 200m perpendicular distance to power-lines in Surulere and Alimosho Local Government Council Areas of Lagos Metropolis. Interviews with the managers and field officers of PHCN sub-stations in the study area were also conducted while data were analysed using analytical statistics. The study revealed that power-lines and its associated risks were found to affect rental values of residential properties within high brow Surulere while no effect was recorded for residential properties in suburban Alimosho. The study ecommends the use of buried armour cables as alternative to power lines and the strict enforcement of the right-of-ways where power-lines exist within the Lagos metropolis and generally across the nation. Keywords: HVOTLs, Risk elements, Residential property, Rental value, Estate Surveyor

Towards an Effective Real Estate Agency Education: A Stride to Efficiency in Nigeria

Real estate agency has been relegated in academic curriculum of Estate Management Programme in Nigeria. This partly accounts for few research efforts in the field compared to what is obtainable in the UK, US and Asia. This research therefore aims at examining the practice of real estate agency amongst the professionals’ viz-a-viz curriculum of study obtained while they were undergoing trainning. 159 Estate Surveying firms and 91 Property Development Companies in Lagos were studied. Relative Importance Index and Chi-Square test set at the 0.05 level of significance were adopted for the analysis. It was found that multiple agency was the most practiced which was also fraught with inefficiencies. The study thereby advocated a modification of agency practice through review of curriculum and commitment of both agents and principals in order to eradicate the identified inefficiencies. It also called for focus on the neglected real estate agency research among Nigerian researcher

BACTERIAL QUALITY AND CYTOTOXICITY SCREENING OF FRESH VEGETABLES IRRIGATED WITH POLLUTED WATERS

The mutagenic effects of raw vegetables irrigated with polluted water and their bacterial quality were studied. Two vegetables, lettuce (Lactuca sativa) and fluted pumpkin (Telfaria occidentalis) were planted in sterile soil and irrigated with sewage-polluted stream, rain, tap and well waters, and harvested. The presence of pathogenic bacteria on the vegetable leaf surfaces was determined. The Allium cepa assay was then used to evaluate the genetic and acute effects of the vegetable leaf extracts. The heavy metal concentrations of the vegetables were determined using atomic absorption spectrophotometry. Pathogenic bacteria isolated were Escherichia coli, Staphylococcus aureus, Salmonella paratyphii, Shigella dysenteriae, Klebsiella pneumoniae, Aeromonas hydrophila and Enterobacter aerogenes. In A. cepa assay, none of the treatments induced chromosome aberration at the tested concentrations, but retardation of growth and suppression of mitotic activity occurred. The concentrations of heavy metals in the vegetables were lead (0.261-0.531mg/kg), zinc (0.142-1.618mg/kg), cadmium (0.00-0.13mg/kg), copper (0.021-0.057mg/kg), iron (0.711-1.122mg/kg) and chromium (0.00-0.14mg/kg). This study shows that irrigation waters could have effects on the quality of edible vegetables.Â

Issues Facing the Estate Surveying and Valuation Profession in Nigeria

The paper analyses the issues facing the real estate profession in Nigeria sourcing materials from observations of earlier researchers in the conduct of estate surveying and valuation practitioners and public opinion over time through an x-ray of the challenges faced by practitioners in the real estate business. Analysis showed that the continuous influx of intruders into real estate business is as a result of inability of those registered estate surveyors and valuers to meet the local demand for their services coupled with the poor performance of some sole proprietor firms in the area of valuation accuracy. Also, Estate Surveyors and Valuers Registration Board of Nigeria need to encourage partnerships and the registration of additional estate management graduates through extensive training and rigorous accreditation standards. Admission of members, by the Board, into Fellowship grade should be through the publication of their contributions and achievements on valuation-related issues towards the growth of the profession in Nigeria