EFFECT OF HOUSING FACILITIES ON RENTAL VALUES OF RESIDENTIAL PROPERTIES IN BENIN CITY
Authors: Asikhia M.O, Eghagha N.W, *Eyakwanor A.A
This study examined the impact of available housing facilities on rental value variation among residential properties in Benin City, Edo State, Nigeria. Where these facilities are available, it is believed that the rental value of residential properties would be high. To examine this, primary data was used in the analysis and testing of the hypothesis of the study. In all, 300 questionnaires were administered in three neighborhoods where respondents were randomly selected along major streets. Multiple regression models were used to test the hypothesis and the results revealed that the availability of standard housing facilities had a significant impact on the rental value of residential properties in Benin City. The paper thus recommends that if the quality and value of residential properties in Benin City is to be improved upon, especially in the core area of the City, the main emphasis of government will be to ensure that properties are not only structurally sound but have standard internal facilities.
Affiliations: Department of Architecture, Faculty of Environmental Sciences, University of Benin, Benin City, Nigeria
Keywords: Residential Property, Rental Values, Housing Facilities, ANOVA, Questionnaires
Published date: 2016/12/30