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Impact Of The Higher Institution On Its Neighbouring Residential Property Market

Type Project Topics
Faculty Engineering, Environment & Technology
Course Estate Management
Price ₦3,500
Key Features:
No of Pages: 46
No of Chapters: 5
No of Tables: 7
No of Figures: 3
Questionnaire included
Abstract:
This project examines the impact of higher institution on its neighbouring residential property market. Part of the objectives was to identify the trend of rental values of property market located close to the higher institution. To achieve this, residents were contacted and their opinions were gotten through questionnaires issued. A total number of hundred (100) questionnaires were issued and seventy (70) were retrieved with response rate at 70%. The use of frequency distribution tables was used to analyze data and results showed that insufficient hostel accommodation has led to increase in rent of property of its neighbouring property market.
The study recommends among other things that increase in numbers of students accommodation will reduce demand pressure on available accommodation.
Table of Content:
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study .......................................................................................... 1
1.2 Statement of the Problem ......................................................................................... 6
1.3 Aim and Objectives ...................................................................................................7
1.4 Justification of the study…………………………………………………………...7
1.5 Scope of the Study………………………………………………………...………..8
1.6 Limitations of the Study……………………………………………………………8
1.7 Significance of the study.............................................................................8
1.8 Definition of Terms.....................................................................................9
CHAPTER TWO: LITERATURE REVIEW
2.1 Concept of Property………………….…...................................................................11
2.2 Types of Residential Property……………………....................................................12
2.3 Concept of Value……………………….…..............................................................13
2.3.1 Types of Value…………………………………... ...............................................14
2.4 Theories of Rent………………………....................................................................15
2.4.1 Types of Rent………………………………….....................................................15
2.4.2 Factors affecting Rental values in Study Area…… ..............................................16
2.4.3 Determination of Rental Values…………………. ...............................................17
2.5 Student Housing Market………………....................................................................18
2.6Location and Choice of Accommodation...................................................................19
2.7 Types of Student Housing………………….............................................................19
2.8 Student Housing Demand …………………………................................................20
2.9 Housing Markets Segments………………………………………………………20
CHAPTER THREE: RESEARCH METHODOLOGY AND STUDY AREA
3.1 Introduction ..............................................................................................................22
3.2 Sources of Data Collection........................................................................…………22
3.3 Sampling Technique .................................................................................................23
3.5 Sample Frame and Size ...........................................................................................23
3.6 Method of Data Analysis …….................................................................................23
3.7 Study Area …………………...................................................................................23
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction .............................................................................................................26
4.2 Distribution of Questionnaires....................................................................................26
4.3 Respondents’ Occupation ..........................................................................................27
4.4 Types of Residential properties occupied by respondents ......................................27
4.5 Respondents’ Occupancy Status...............................................................................28
4.6Availability of infrastructural Facilities in the Study Area......................................29
4.7 Respondents’ Mode of Payment of Rent...................................................................30
4.8 Respondents’ perspective on factors that have impact on rental value……………………………………………………………….................................30
4.9 Extent of Growth of Student Housing Demand……………………...….………...31
4.10 Comparative trend of Rental values of Aba-Erinfun and Ijan-Ekiti……..............32
4.10.1 Trend of Rental values of Aba-Erinfun………………………….……..............32
4.10.2 Trend of Rental values of Ijan-Ekiti…….……………………….……..............34
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary....................................................................................................................35
5.3 Conclusion ................................................................................................................35
5.4 Conclusion ................................................................................................................35
REFERENCES ...............................................................................................................36
APPENDIX I………………………………………………………………………....38
APPENDIX II………………………………………………………………………...42
Introduction:
Higher education institution is viewed as a magnet in the metropolitan area that attracts people and economic activity towards it (O‟Flaherty, 2005). In recent times, the Nigeria government have shown strong commitment to growth in higher education sector by the establishment of more institutions especially universities and polytechnics and the liberalization of its ownership. While this is the focus of the government, little or no attention is given to the provision of accommodation in the varsities and polytechnics to meet the rising student population. As a result of this, majority of the student population take solace in the rental market for alternative accommodation. The demand has resulted in the establishment of niche market because students’ market especially appears to be robust. Hence, Peacocke (1999) opined that the major characteristics of students demand is that it monopolizes the market thereby reducing supply to other tenant groups.
Anamaria and Melchior (2007) used two concepts to analyze the impacts produced by the presence of a higher institution in an area: to include magnets and enclave. The first concept used to describe the impacts of large land owners such as the polytechnic is the “magnet”. In urban terms, magnet represents a concept or metaphor which describes a territory in the metropolitan area which attracts people and economic activity towards it. Higher education institutions can be qualified as magnets since they have the power of attracting many students, faculties and staff as well as business and institutional activities to a specified region in a town. Higher education institutions, when acting as a magnet, besides attracting uses that promote urban and economic growth, attracts activities regarded as damaging by particular groups in the society (Anamaria and Melchior, 2007).
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