RESIDENTIAL PROPERTY

 

RESIDENTIAL PROPERTY

Residential properties according to Leramo, (1992) are properties providing housing accommodation. According to Malady and O’ Donneland, (1976), “Residential properties are generally constructed to mean property primarily acquired for residence”. It has the attribute of giving shelter, security, comfort, privacy, investment and personal identity. A residential area requires a considerable if not absolute tranquility and this is mostly achieved through planning. In 1928, a town planner employed by the government reported in Enugu and drew up the first overall plan which made provision for the development of an industrial area. However, town planning in Enugu has been concerned with the geographical, administrative and economic layout, but little attention has been given to the even larger problem of controlling influx of immigrants. A look at the development of land for residential purposes shows some success as well as failures. In some area such as Obiagu and Edozien Street, residential properties are springing up alongside industrial properties and some of the already developed residential areas are seriously being encroached upon by commercial properties.

 

   TYPES OF RESIDENTIAL PROPERTIES

Residential property covers a wide range of properties which can be grouped, for conveniences of consideration, into

a) Tenements

b) Block of flat

c) Duplexes or semidetached houses

d) Detached houses

e) Bungalow

a) Tenements: They are residential building in high density areas let in rooms. In other words, it is multi occupied looking at the characteristics, we find that amenities such as kitchen, toilet and bathroom are shared by a group of families (Briton and Johnson, 1980). They are normally found in the area occupied by the low income groups.

b) Block Of Flats

According to Hamlyn Encyclopedic Dictionary when talking of flats, we mean an apartment that has one floor or more. According to Ifediora, “flat” are self-contained residential accommodation units within a building block. It must be on one floor forming a complete residence. “Flats could be purpose built or converted” (that is single roomed building converted into flat). Purpose built is normally designed before construction work is carried out.

Modern flats may in addition suffer from the incidence of service of lifts, common pouts, and porter age and maintenance crew. Consequently though it is the net income which is valued, the uncertainty of the out goings increased the risk of both income and capital. Flats are, however, of various categories varying from the modern purposed designed prestige flat in low density high environmental quality area to the converted type in the high density area.

Flats depending, of course on location, rank lower to house in investment prospects, but are better than tenements.

c) Duplex Or Semi – Detached Houses

The Arnold Encyclopedia Of Real Estate gave two definitions of duplex are follows,

i)                     A dwelling house divided so as to accommodate two facilities with separate kitchen and bathroom facilities and separate living areas and entrances. A two family house whose separate dwelling units are either situated side by side or one on top of each other.

ii)                  A single apartment with two floors!

d) Detached Houses: It is a separate development standing apart. It is not attached to any other house and usually on a land large enough to provide a garden of a fair size and possible two garages, and an additional parking space, within the cottage. It usually has a boy’s quarter.

e) Bungalow: It is a cottage, usually of only one storey especially for country side residence. Normally, it consists of bedroom, living rooms, kitchen, toilet and bathroom, garage and boy’s quarter in addition. It offers as absolute privacy as detached houses and it equally attractive to medium and high income earners.