The Effects Of Slum On Rental Property Values

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

The 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 Ogui Nique. This explains why Obiag is now inhabited by people from nearly five states in the southeast. 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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For the most part, housing decay and decay takes many forms, and its presence is more pronounced 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 Slum characteristics include inadequate and inadequate facilities, outdated buildings, and filthy environments.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 poor housing in the most disorganized 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, bad roads, etc., are the basis of this study, which examines the impact of slums on property values, their locations, and seeks to further display or determine. 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

Growing up, they:

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 rent 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 use of the highest

Country. The highest and best use is the abandonment of land use to the greatest benefit not only to its owners but to society as a whole. Oberg

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The area was not optimally used, resulting in slums in the area. 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 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 goes into detail 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, history of slums, etc. I will explain.

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.