Department of Estate Management

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Browsing Department of Estate Management by Subject "Consequences"

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    Infill Development and its Attendant Consequences on Neighbourhood Property Value: Evidence from Gwarinpa, Abuja, Nigeria
    (Transstellar Journal Publications, 2020-06-30) Fateye, Tosin Babatola
    This paper examines the impact of infill developments, which involve developing vacant or under-used parcels within existing urban areas that are largely developed, on local housing prices. Infill developments are encouraged because it helps in curbing urban sprawl and because the newer and more expensive buildings, which are constructed in place of old buildings or vacant sites, increase the city's tax base. However, infill developments may impose externality effects on nearby properties and thereby affect their values. It is not uncommon for existing residents to resist new developments within their neighbourhood for reasons such as visual pollution, increased traffic noise, disruption to local traffic patterns, or loss of a neighbourhood’s character. Nevertheless, a new development tends to have a positive net effect, since the new building, by virtue that it is cleaner and more attractively designed, adds to the overall appeal of the neighbourhood. This, in turn, attracts more desirable inhabitants, such as higher income occupants or homeowners, to live in the area. The study made use of questionnaires for data collection. A total of 106 questionnaires were distributed, 50 to estate surveyors and values and 56 to the residents of the housing units. The percentage of the retrieval rate is 68 % and 70 % respectively from the ESVs and the residents, which was used for the analysis. The study deployed descriptive statistics such as frequency distribution table, maximum, minimum, mean, standard deviation, mean weighted score (MWS), relative importance index (RII), and inferential statistics of t-test for the analysis. The findings showed that infill development has both positive and negative impacts on the study area. Many of the respondents agreed that the most significant positive impact of infill development in the area is that it has helped in increasing level of patronage and reduction in cost and travel time in accessing goods and services within the area, as well as the creation of employment opportunities for residents, amongst other positive impacts. Concerning the negative externalities of infill development on the area, those with a strong impact within the neighbourhood include pressure on existing facilities and amenities, traffic congestions and inadequate parking space around the community. On the relationship between the effects of infill development on the adjoining property value, the result of the t-statistics showed that all the effects exhibit positive and significant (p-values <0.05) relationship with the property value in the area. However, the infill development in Gwarinpa influences the property values at varying degrees.