Rental Value Around HVOTL Facilities in Residential Neighborhoods of Metropolitan Lagos,Nigeria

Abstract

There has been a constant debate that High Voltage Overhead Transmission Lines (HVOTLs) facilitate residential property values diminution. This study therefore tries to capture the pattern of residential property rental values around HVOTLs using a rent comparison basis within Lagos metropolis. Questionnaires were distributed to Estate Surveyors and Valuers, residents within 200m to power lines in Surulere and Alimosho areas of Lagos coupled with an indepth interview with the Managers and field officers of the Akangba and Alimosho PHCN sub station. An average response rate of 66.5% was recorded and collated data were analysed via descriptive and analytical statistics. Findings revealed a homogeneous trend in residential property value and neighbourhood characteristic. Finally, the study encouraged the burial of power lines inclusive of the strict enforcement of ROWs in Lagos metropolis to play down and abate the unanticipated impact of HVOTL on property investments