A comparative study of rental value of residential properties at border communities of Lagos and Ogun States, Nigeria
2021
This study delves into the pattern and level of development of two adjacent border
communities of Lagos and Ogun States, Nigeria to compare the effect on rental values of
residential properties in the two communities. The study attempted to find out if there are
significant differences as well as definite relationship between the values. Questionnaires were
distributed to two groups of respondents which are 84 estate surveying and valuation firms in
Ikeja, Lagos and 152 residential property owners/residents in the two communities. Data were
analysed with statistical tools such as tables, percentages and mean. Student’s t-test statistics
was used to ascertain the difference in rental values while Pearson coefficient of correlation
was used to establish the degree of relationship. The importance of factors influencing rental
values was determined using the relative importance index. Analysis were presented in
percentages, tables and charts and then discussed. Result showed that there are significant
statistical differences in rents of the two communities despite the proximity. It was further
observed that neighbourhood density and level of infrastructure development play vital roles in
the gaps observed in rental values. However, the Pearson correlation coefficient revealed that
there is a relatively strong positive correlation between rental values of properties in the two
communities. The research therefore concluded that for property market on the Ado-Odo/Ota
side of the emerging Lagos megacity to attain its full potential, there is the need for major
urban renewal, investment in physical and economic infrastructure via partnership with private
sectors and property owner in the communities
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