Assessment, Determination and Modeling Effects of Infrastructural Decay on Rental Values in Nigeria (Case Study of Ehimiri, Agbama and Isieke Housing Estates)
Engineering Mathematics
Volume 2, Issue 1, June 2018, Pages: 12-20
Received: May 31, 2018; Accepted: Jun. 12, 2018; Published: Jul. 9, 2018
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Authors
Casmir Chidiebere Onyeneke, Department of Mathematics and Statistics, Hezekiah University, Umudi, Nigeria
Chibuzor Eguzouwa, Department of Estate Management, Abia State University, Uturu, Nigeria
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Abstract
Housing accessibility and utilities constitute the intangible services available to a particular building by a community or any activity or groups of activities operated within the community. This research examines the effect of the decays in these infrastructures on rental values. The more accessible a dwelling is relative to other activity areas, the more useful will the dwelling be. Generally, infrastructural utilities include such goods and services as the provision of potable water, electricity, sewage, telephone, gas and roads. The provision of these utilities is not without cost and this cost is usually included in or forms part of the cost of housing. Many developing countries, particularly in Africa, accord relatively low priority to housing in their overall scheme of national development, and the volume of construction generally falls short of housing demands. The approach to housing policy in Nigeria has tended to oscillate between the welfare mixed economy and the free market model. The conventional wisdom is that governments should focus on providing good investment climates, infrastructure and mortgage facilities to low and middle income families. Nigerian cities are largely characterized by the public provision of urban infrastructural services such as electricity, water supply, drainage, sewage, access road and solid waste collection and disposal. The three tiers of government federal, state and local are often involved in one way or the other in the provision of these services in the urban centers. Although the provision of infrastructures such as roads and power supply lies with the government, communal efforts are still put together to fast track the process of making the infrastructures reach the people. Sometimes it is preferable not to wait for the government due to administrative bottlenecks and sometimes corruption by government officials.
Keywords
Infrastructure, Housing Facilities, Rental Values, Electricity, Basic Amenities, Correlation Coefficient, Regression, Estate Management
To cite this article
Casmir Chidiebere Onyeneke, Chibuzor Eguzouwa, Assessment, Determination and Modeling Effects of Infrastructural Decay on Rental Values in Nigeria (Case Study of Ehimiri, Agbama and Isieke Housing Estates), Engineering Mathematics. Vol. 2, No. 1, 2018, pp. 12-20. doi: 10.11648/j.engmath.20180201.12
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Copyright © 2018 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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