A COMPARATIVE ANALYSIS OF HOUSING AND ENVIRONMENTAL CONDITION ON RENTAL VALUE IN NASARAWA
ABSTRACT
This study is a comparative analysis of housing and environmental condition on rental value in Nasarawa, it assess the current condition of housing and environmental condition, evaluate the locational characteristics of the various residential zones that affect rental values of residential properties, create profile of annual rental values of residential properties and evaluate the impact of housing and environmental condition on rental values of residential properties in Nasarawa. The study adopted survey design as the methodology of the study, this offers the researcher the opportunity to use questionnaire, personal observation and interview to source for data from the respondents. 100 questionnaires were administered and 80 were returned. The researcher makes use of tables and descriptive statistics to present and analyse the data gathered for the purpose of the study. The study revealed that the major causes of environmental problem in the study area is manmade which is manifested in the form of non-compliance with development control, indiscriminate dumping of refuses and over population while natural causes of environmental degradation include erosion and thunderstorm, the effect of housing and environmental condition in the study area include health impact, aesthetic depreciation and harboring of miscreants / scavengers and that housing and environmental condition affect residential property value a very high extents, as it result in high vacancy rate, and low rental value of properties. Finally, the study suggest measures to adopted in order to reduce the menace of environmental condition and its devastating impact of property value, this measures include creating public awareness about the consequence of bad environmental condition, enforcement of development control laws and regulations and provision of drainages and improved waste disposal methods.
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