Arterial Road Network and Commercial Property Values: Case Study of Ikeja, Nigeria

Abstract

A number of factors determine commercial property values in Ikeja, Nigeria, road network has been identified as one of them. This study was carried out to determine the contribution of arterial road network to variability in commercial property values in the study area in the presence or absence of other factors. In doing so, road network was decomposed into its explanatory variables and regression models used to analyze the relationship with commercial property values. It was found that accessibility, demand, and supply of commercial properties have significant relationships with commercial property values. Models to assist property developers predict commercial property values along the arterial roads in the study area were derived, while it recommended that road network be improved to enhance values of commercial properties to benefit Government, owners and occupiers of commercial properties in the study area