Effects of infrastructural development on residential preoerty values in Minna

Abstract

The provision of adequate infrastructure is a tool for driving economic development within a given locality. The availability of relevant infrastructure to sustain human development which can be social or economic in nature is expected to enhance the income to be generated from the use of such human development. However, rental value which is an income to be generated from property development which is a form of human development is expected to be influenced by the provision of appropriate infrastructure that will enhance the sustainability of residential property in this instance. In order to examine the effect of Infrastructure on residential property value the research adopted a mixed of quantitative and qualitative method of research. The study adopted a purposive selection of 8 practising estate surveyors within the study area and randomly distributed 400 questionnaires to the residents of Tunga and Bosso. The result indicates that with a minimum of 84%, tarred road is the predominant infrastructure in the selected areas while the regression analysis with coefficient of determination (R2) of 49.3% indicates that time taken on the road is not a factor for consideration in selection of residential property. In essence the type of road provided in the study area does not have any effect on residential property value