The Effects Of Slum On Rental Property Values
chapter One
1.0 Introduction
1.1 Research background
According to historical sources (Leadership Newspaper), Assata, coal
Ogui Urban, which includes Camp, Newmarket, and the Obiag area of the city, is owned by the Ogui Nike people. However, during the colonial period, whites began to develop some of the land owned by the Ogui Nique people. This explains why Obiag is now inhabited by people from nearly five states in the southeastern part of the country. Abia, Anambra, Ebony, Imo and now Enugu state.
Part of Obiag was also inhabited by his community of Hausas who came to the town at the time as cattle traders and artisans. However, after the events that led to the outbreak of the Nigerian-Biafra War in 1967, a large number of Hausa men who lived in the area left various northern states and never returned to the area, resulting in a large number of Nigerians. The community accepted other ethnic groups. , especially warts still react
“Ama Hausa” [home of the ghetto Hausa community. When the police or other security agencies are looking for a suspect
Criminals usually turn their searchlights on Obiag, believing it to be a criminal-infested area (Ubani, 2012).
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Most often, housing rot and decay come in many forms, and their presence is more evident in densely populated areas of cities. Slum characteristics include inadequate and inadequate facilities, outdated buildings, and filthy environments. Many concerns have been expressed about the problems of slum areas, particularly the extent of decline in these areas and the plight of the low-income families living there. endanger the life and health of the population.
Obiag experienced rapid population growth due to the influx of people from different regions of the east as a result of its development since the colonial period, so houses built with handcrafted materials appeared throughout the settlement. As such, the area is densely populated with bad housing in the most messy locations. Currently, settlements are growing and developing without planning, leading to a decline in the asset value of the living environment and social status.
Therefore, the main objective of this study is to examine the impact of slums on rental values in Obiag.
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1.2 Problem Description
Obiag is characterized by slums with decaying structures,
High occupancy, predominantly low-income populations, overcrowding, undersupply of public facilities, poor roads, etc., are the basis of this study, which seeks to examine and further display or determine the impact of slums on property values and their locations. increase. Slum development is the biggest setback to urban growth/development.
1.2 Objectives and objectives of the survey
The purpose of this study is to examine the effect of slums on rent
Obiag real estate value. To achieve this goal, the following goals
Raised, they are:
a. Determining the causes and effects of slums on rental values in the study area.
b. Determining the negative and positive impact of slums on rental values in the study area.
c. How to decide if a slum environment is a true investment
1.4 Research question
Despite identifying the aforementioned research questions, some questions arise
Raised by researchers. It is believed that correct answers to these questions will lead to the achievement of research objectives.
Here are the questions:
1. What are the causes and effects of slums on rental property values in Obiag?
2. Are there negative and positive impacts of slums on rental property values? 3. Will investing in real estate and real estate market transactions in Obiag be a profitable endeavor?
1.5 Research rationale
This study is based on the theory of best and best use
Country. The highest and best use is the abandonment of land use to bring the greatest benefit not only to its owners, but to society as a whole. Oberg
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The area had become a slum because the area was not being used optimally. This means that maximizing the use of land creates room for development. This requires the implications of their research.
1.6 Importance of research
This study tends to identify the type of slums in the study area.
Possible causes and impacts on local real estate rental values to help relevant authorities resolve issues and improve local real estate market interests.
The causes of slums are many, including random land development and improper waste disposal. Governments and their agencies are not paying much attention due to insufficient information available. This study will increase the interest of government officials on this topic and, if the recommendations are followed, will go a long way in eliminating slums in the study area and promoting development and real estate investment.
1.7 Research fields
This research is limited to the development of Obiag slums. or
Surveys that consider the environment, society, and economy
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Demographic, transportation, infrastructure and housing conditions related to property setting and property value enhancement.
1.8 Limitations of the study
Limitations of this study include time, financial constraints, and the lack of sufficient relevant data that the study could have used to give a sufficiently novel approach to research of this study type.
1.9 Survey overview
The study begins with an introductory chapter on the research question
and other related issues. Chapter 2 deals with a review of the literature and elaborates on slums, the concept of slums, types of slums, attitudes towards slums, causes of corruption and factors leading to the formation of slums, types of slums, roles of slums, and history of slums. To do. etc
Chapter 3 describes the research methodology research methodology and design, data sources, data collection, and data analysis tools.
Chapter 4 discusses data presentation and analysis, and Chapter 5 presents findings, recommendations, and conclusions.
1.4 Research question
Despite identifying the above research questions, some challenges remain
Raised by researchers. It is believed that answering these questions correctly will lead to the achievement of the research goal.
Here are the questions:
1. What are the effects and causes of slums on rental values in Obiag?
2. Are there negative and positive impacts of slums on rental property values? 3. Will investing in real estate and real estate market transactions in Obiag be a profitable venture?
1.5 Research Basis
This study is based on the best and best use theory
Country. Highest and best use is the abandonment of land use for the greatest benefit not only to the owner, but to society as a whole. Upstairs
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The area had become a slum due to non-optimal use of the area. This means that maximizing land use creates room for development. This requires the implications of their research.
1.6 Importance of research
This survey tends to identify the type of slums in the study area.
Possible causes and impacts on local real estate rental values to help relevant authorities resolve issues and improve local real estate market profits. The causes of slums are multiple, including indiscriminate land development and inadequate waste management. Governments and their agencies have paid little attention to this issue due to insufficient information available. This study will increase the interest of government officials in this topic and, if recommendations are followed, will contribute significantly to eliminating slums in the study area and promoting development and real estate investment.
1.7 Research fields
This research is limited to the development of obiag slum. Also
Environmental, social, and economic considerations
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Demographic, transportation, infrastructure and housing conditions related to real estate shutdowns and real estate rises.
1.8 Limitations of the study
Limitations of this study include time, financial constraints, and lack of sufficient relevant data that the study could have used to provide a sufficiently novel approach to research of this kind.
1.9 Survey overview
The study begins with an introductory chapter on the research question
and other related issues. Chapter 2 provides a review of the literature and discusses slums, the concept of slums, types of slums, attitudes towards slums, causes of corruption and factors leading to the formation of slums, types of slums, roles of slums, and transition from slum to slum. Consider history. slum. make. etc
Chapter 3 describes the research methodology and design of the research methodology, data sources, data collection, and data analysis tools.
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