Housing Infrastructural Facilities as Determinants of Rental Values of Residential Properties in Osogbo, Osun State Nigeria
Abstract
Infrastructural facilities are generally believed to enhance the rental values of residential properties. This study aims at evaluating the infrastructural facilities that influence the rental values of residential properties in Osogbo, Osun State Nigeria. The study adopted the survey research design. Data were collected from a sample of 150 tenants and 15 practicing Estate surveyors and Valuers in the study area. Descriptive statistics (frequency, percentages, weighted mean score) and inferential statistics (Spearmans rank correlation and multiple linear regression analysis) were used to examine the relationships between the criterion variable (rental values) and the predictor variables (infrastructural facilities). The study indicated that there is a high positive correlation between the variables (0.905), implying that there is a strong positive relationship between rental values and availability/condition of housing facilities. However, Out of the eight predictors, only refuse disposal facility does not significantly influence rental values. The study recommended among others, that property developers should put in place those housing infrastructural facilities that influence rental values of residential properties in order to maximize returns from their property investment.
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