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IMPACT OF RAILWAY INFRASTRUCTURE ON RENTAL VALUE IN SOUTH WESTERN NIGERIA.
Table of contents
CHAPTER ONE: Introduction 1
1.1 Background to the Study 1
1.2 Statement of the Problem 6
1.3 Aim and Objective of the Study 9
1.4 Research Questions 10
1.5 Hypotheses 10
1.6 Justification of the Study 12
1.7 Research Methodology 12
1.7.1 Research Design 12
1.7.2 Types and Sources of Data 12
1.7.3 Population of the Study 13
1.7.4 Sample Size 13
1.7.5 Sampling Techniques 13
1.7.6 Analytical Techniques 14
1.7.7 Research Process 14
1.7.8 Study area 14
CHAPTER TWO: Conceptual Framework and Literature Review 18
2.1 Theoretical Background of the Study 18
2.1.2 Concept of Property and Property Values 20
2.1.3 Transportation and Property Value 22
2.2 Literature Review 23
CHAPTER THREE: Data Presentation and Analysis 31
3.0 Introduction 31
3.1 Socio-economic Characterization of Respondents 31
3.1.1 Gender Distribution of Respondents 31
3.1.2 Age Distribution of Respondents 32
3.1.3 Marital Status Distribution of Respondents 33
3.1.4 Occupational Distribution of Respondents 33
3.1.5 Academic Qualification of Respondents 34
3.1.6 Monthly Income Distribution of Respondents 34
3.1.7 Vehicle Ownership Distribution of Respondents 35
3.1.8 Religion Distribution of Respondents 35
3.1.9 Nationality Distribution of Respondents 36
3.1.10 Ethnicity Distribution of Respondents 36
3.1.11 Family Size Distribution of Respondents 37
3.2 Characteristics of Respondents Building 38
3.2.1 Analysis of Annual Rent for Self Contain 38
3.2.2 Analysis of Annual Rent for 2 Bedroom Flat 38
3.2.3 Analysis of Annual Rent for 3 Bedroom Flat 39
3.2.4 Analysis of Annual Rent for 4 Bedroom Flat 40
3.2.5 Analysis of Annual Rent for 2 Bedroom Bungalow 40
3.2.6 Analysis of Annual Rent for 3 Bedroom Bungalow 41
3.2.7 Analysis of Annual House Rent for 4 Bedroom Bungalow 42
3.2.8 Analysis of Annual Rent for 3 Bedroom Duplex 42
3.2.9 Analysis of Annual 4 Bedroom Duplex 43
3.2.10 Types of Building 44
3.2.11 Number of Year Spent in the Area 44
3.2.12 Number of Year Spent in the House 45
3.2.13 Distance of Former Place of Residence 45
3.2.14 Condition of Present Building 46
3.2.15 Years of Building 46
3.2.16 Distance of Building from nearest railways station 47
3.2.17 Most important water supply source to the Building 47
3.3 Environmental Characteristics and Rent 48
3.1.1 Most Important challenges 48
3.3.2 Most important factor for choosing present location 49
3.3.3 Relevance of trans station to daily movement 49
3.3.4 Most important factor influencing rents in the area of study 50
3.3.5 Advantage of Rail station to business 50
3.3.6 The presence of commercial building can be attributed to railway passenger traffic 43
3.3.7 Distance of house to nearest bus stop 44
3.3.8 Nearest local market to train station 44
3.4 Factors Affecting Choice of Residence 52
3.4.1 The train station/railway has resulted in slum/squatter around this area 52
3.4.2 Closeness to Train station affects rents 52
3.4.3 Train station has attracted more commercial tenants in this area 53
3.4.4 Houses around train station are old and dilapidated 53
3.4.5 Rents of houses closer to the station are cheaper 54
3.4.6 Train station causes heavy pedestrian traffic 54
3.4.7 Train station causes heavy vehicular traffic 55
3.4.8 The train station has made this neighborhood insecure 55
3.4.9 The train station has resulted in commercial activities dominating this neighbourhood. 56
3.4.10 Power supply is constant here 56
3.4.11 Public water supply is available 57
3.4.12 All roads within this area are tarred and well maintained 57
3.5 Research Questions 58
3.5.1 Research Question 1 58
3.5.2 Research Question 2 59
3.5.3 Research Question 3 59
3.6 Test of Hypotheses 60
CHAPTER FOUR: Summary, Conclusion and Recommendations 51
4.1.0 Summary of Findings 51
4.1.1 Summary of objective 1 51
4.1.2 Summary of objective 2 51
5.1.3 Summary of objective 3 62
4.2 Conclusion 62
4.3 Recommendations 63
References 65
APPENDIX: Questionnaire 72
LIST OF TABLE
Table Title Page
3.1.1 Gender Distribution of Respondents 25
3.1.2 Age Distribution of Respondents 26
3.1.3 Marital Status Distribution of Respondents 26
3.1.4 Occupational Distribution of Respondents 27
3.1.5 Academic Qualification of Respondents 27
3.1.6 Monthly Income Distribution of Respondents 28
3.1.7 Vehicle Ownership Distribution of Respondents 28
3.1.8 Religion Distribution of Respondents 29
3.1.9 Nationality Distribution of Respondents 29
3.1.10 Ethnicity Distribution of Respondents 30
3.1.11 Family Size Distribution of Respondents 30
3.2.1 Analysis of Annual Rent for Self Contain 31
3.2.2 Analysis of Annual Rent for 2 Bedroom Flat 31
3.2.3 Analysis of Annual Rent for 3 Bedroom Flat 32
3.2.4 Analysis of Annual Rent for 4 Bedroom Flat 33
3.2.5 Analysis of Annual Rent for 2 Bedroom Bungalow 33
3.2.6 Analysis of Annual Rent for 3 Bedroom Bungalow 34
3.2.7 Analysis of Annual House Rent for 4 Bedroom Bungalow 35
3.2.8 Analysis of Annual Rent for 3 Bedroom Duplex 35
3.2.9 Analysis of Annual 4 Bedroom Duplex 36
3.2.10 Types of Building 36
3.2.11 Number of Year Spent in the Area 37
3.2.12 Number of Year Spent in the House 37
3.2.13 Distance of Former Place of Residence 38
3.2.14 Condition of Present Building 38
3.2.15 Years of Building 39
3.2.16 Distance of Building from nearest railways station 39
3.2.17 Most important water supply source to the Building 40
3.1.1 Most Important challenges 41
3.3.2 Most important factor for choosing present location 41
3.3.3 Relevance of trans station to daily movement 42
3.3.4 Most important factor influencing rents in the area of study 42
3.3.5 Advantage of Rail station to business 43
3.3.6 The presence of commercial building can be attributed to railway passenger traffic 43
3.3.7 Distance of house to nearest bus stop 44
3.3.8 Nearest local market to train station 44
3.4.1 The train station/railway has resulted in slum/squatter around this area 45
3.4.2 Closeness to Train station affects rents 45
3.4.3 Train station has attracted more commercial tenants in this area 46
3.4.4 Houses around train station are old and dilapidated 46
3.4.5 Rents of houses closer to the station are cheaper 47
3.4.6 Train station causes heavy pedestrian traffic 47
3.4.7 Train station causes heavy vehicular traffic 48
3.4.8 The train station has made this neighborhood insecure 48
3.4.9 The train station has resulted in commercial activities dominating this neighbourhood. 49
3.4.10 Power supply is constant here 49
3.4.11 Public water supply is available 50
3.4.12 All roads within this area are tarred and well maintained 50
3.6.1 Relationship between age of building and rental value 51
3.6.1 Paired Sample Statistics 51
Abstract
Introducing rail transit into a region often creates expectations about the impact of the rail project on property values. Information on the impact of rail on property values is often incomplete and limited due to anecdotal evidence, leaving regions planning for rail investments without a firm basis to judge the future impact of such an investment. In addition, this lack of complete information limits the extent to which transit agencies can develop strategies to maximize positive property value impacts. In Nigeria the impact of railway infrastructure on property value has not been investigated. This study examines impact of railway infrastructure on rental value in south western Nigeria. The study compared the level of accessibility of train station, it further examined the factors influencing property value around train station in South Western Nigeria.
The study adopted survey research design. Both primary and secondary data were used for the research study. The primary data used was obtained through the use of questionnaire survey which was administered to residents residing around railways stations in South Western Nigeria. Also, secondary data were gotten from online articles, online journals and published works which focus on railways impact. A total of 100 questionnaire were distributed within a 1km radius of railway stations in South Western Nigeria with 60 respondents in Lagos, 20 respondents from Ibadan and 20 respondents from Abeokuta. Data generated from the study were analysed using descriptive and inferential statistics such as regression analysis.
Findings from the study showed that the distance of residence for majority of the respondents is less than 100m. Only few respondents use train service as proximity does not determine the patronage of the station. Findings also revealed that the presence of commercial building in the study area is attributed to the presence of railways passengers and closeness of some commercial building to the rail station.
Study also found that age of building does not increase or decrease the residential rental value in the study area. As the regression analysis indicate no significant relationship between distance from train station and their rental value.
The study recommends the following that the Government should invest in railway transit development so as to improve patronage of trains and their stations Nationwide. The government must collaborate with private sector in developing the train station to standards such as those in developed country. Inter modal access to train stations should be improved particularly for road infrastructure servicing such points across South Western Nigeria.
The study conclude that closeness of residential buildings to train stations across South Western Nigeria has influence on rental value in these areas due to the low level of train service and it’s poor patronage in the country.
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