Department of Estate Management
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- ItemAdoption of Automated Valuation Models- A Panacea for Enhanced Valuation Practice in Nigeria(Department of Estate Management, Obafemi Awolowo University, Ife, 2021) Awosode, OrayinkaThe era of globalization coupled with the introduction of information communication technology has brought about changes in the real estate industry. It has widened the scope of valuation practice, while sophisticated clients also demand accurate price prediction and risk pricing. Extant studies have discussed the lack of data repository bank, digital divide, obsolete educational and practical knowledge as part of the challenges of valuation practice in Nigeria. However, the use of technology is continually changing valuers’ roles from property assessors based on localized market information to financial analysts. The adoption of advanced valuation methods such as Automated Valuation Models (AVM) could help in removing the problem of localized property market knowledge, data availability and access to data. This study reviewed valuation practice in Nigeria, challenges facing the practice in Nigeria and the use of technology as a possible future for valuation practice. The study concluded that although the use of AVM is not popular in Nigeria, it is pertinent to the growth and development of valuation practice. It then recommended that all stakeholders should encourage its adoption in data collection and analysis coupled with a physical inspection to ensure an accurate estimate of value.
- ItemAnalysis of the Driving Factors of Property Investment in the Peri-Urban Property Market of Ogun State, Nigeria(Department of Estate Management, Obafemi Awolowo University, Ile-Ife, Nigeria., 2020-03-24) Ajayi, Cyril AyodeleThis study examined the driving factors of property investment in the periurban property market with a major focus on Abeokuta suburbs. It was done with a view to providing information on the types of real estate property developed for investment purposes and the prominent market driving forces in the suburb. The study used primary data and the relevant information was collected through a structured questionnaire instrument. The study employed convenience sampling techniques. A total of 150 questionnaires were administered to members of Nigeria Institution of Estate Surveyors and Valuers (NIESV) and Real Estate Developers Association of Nigeria (REDAN). Eighty-two (82) and seventy-forty (74) questionnaire were retrieved from NIESV and the REDAN respectively. The study deployed descriptive statistics such as simple frequency distribution and meanstandard deviation model to analyse the data. The study found that in the suburb, the property types such as residential and commercial were identified to be the most often developed investment property types and major businesses occur in buying and selling of investment property among the trading activities in the market. The prominent driving forces were land availability and affordability, economic gain/market potential, proximity to urban centres, population growth and strategic locational features. This result signals the need for potential real estate investors to consider the driving forces as underlying factors for informed decision when thinking of investing in the peri-urban property market.
- ItemAnalysis of the Driving Factors of Property Investment in the Peri-Urban Property Market of Ogun State, Nigeria(Department of Estate Management, Obafemi Awolowo University, Ile-Ife, Nigeria., 2020-12-12) Fateye, Tosin BabatolaThis study examined the driving factors of property investment in the periurban property market with a major focus on Abeokuta suburbs. It was done with a view to providing information on the types of real estate property developed for investment purposes and the prominent market driving forces in the suburb. The study used primary data and the relevant information was collected through a structured questionnaire instrument. The study employed convenience sampling techniques. A total of 150 questionnaires were administered to members of Nigeria Institution of Estate Surveyors and Valuers (NIESV) and Real Estate Developers Association of Nigeria (REDAN). Eighty-two (82) and seventy-forty (74) questionnaire were retrieved from NIESV and the REDAN respectively. The study deployed descriptive statistics such as simple frequency distribution and meanstandard deviation model to analyse the data. The study found that in the suburb, the property types such as residential and commercial were identified to be the most often developed investment property types and major businesses occur in buying and selling of investment property among the trading activities in the market. The prominent driving forces were land availability and affordability, economic gain/market potential, proximity to urban centres, population growth and strategic locational features. This result signals the need for potential real estate investors to consider the driving forces as underlying factors for informed decision when thinking of investing in the peri-urban property market.
- ItemAn Assessment of Workers’ Satisfaction in Estate Surveying and Valuation Firms in Lagos State, Nigeria(IAEME Publication, 2019-03-03) Fateye, Tosin BabatolaThis study examined the levels of satisfaction of employees with the major focus on the staff of estate surveying firms (ESFs) practicing in Lagos State, Nigeria. This was with a view to identify the factors influencing their levels of job satisfaction and analyze the relationship among the influencing factors. Structured questionnaire were administered to 367 ESFs operating in Lagos State out of which 274 representing 74.66% questionnaire were properly filled, returned and analyzed. The study deployed descriptive statistics such as simple frequency distribution, mean weighted score (MWS), cross tabulation, correlation and one-sample test (t-test). The findings of the study showed that few estate surveyors (17.52%) expressed satisfaction in the job, 39.42% of the employees were completely dissatisfied while 43.07% of them were unsure about their job satisfaction level. The result of cross tabulation showed that, male estate surveyors expressed higher level of dissatisfaction (53.73%) compared to their female counterparts (33.65%) in ESFs. From the MWS result, the respondents rated communication (COM: 4.41), fairness and sufficiency of salary (SAL: 4.23), the quality of relationship with supervisor (RLS: 4.23), fairness of organizational policies (ORG: 4.17), reward for good job performance (RWD: 3.85) and quality of relationship with co-workers (RCW: 3.77) as the dominant influencing factors of job satisfaction. The study also discovered strong positive correlation coefficient between COM and COW (.824), SAL and RWD (.775), RLS and COM (.754). At 5% confidence level, the result of the t-test showed positive contributions of all the influencing factors to employees job satisfaction in estate firms (p<0.05). The study concluded that providing enabling work environment in ESFs should be encouraged for optimal unitization of human and non-human resources. Thus, issues relating to staff welfare should be treated with optimum priority in organizations that desires to achieve efficiency in their operations.
- ItemBasic Residential Neighborhood Infrastructure Financing in Nigeria Urban Cities: Community Development Associations (CDAS)-Based Approach(EnPress, 2021-06-08) Fateye, Tosin BabatolaThe study examined the community-based approach to finance basic public infrastructures in residential neighborhoods. The primary objectives of the study were to determine the condition of public infrastructures, the level of community engagement, the modalities of financing and the prominent influencing factors. The study adopted convenience sampling and questionnaire survey techniques. A total of 120 questionnaires were administered to residents of selected high-income communities (HICs) and low/medium-income communities (L/MICs), out of which 48 (80%) and 52 (86.67%) were retrieved, respectively, and analyzed. The study deployed descriptive statistics of mean and standard deviation models and mean weighted score to analyze the data. The study found that the residents were satisfied with the security of the neighborhoods but deplored the state of the public potable water infrastructure in both communities. However, the residents in the HICs enjoy a better condition of road infrastructure compared with L/MICs. The residents in both communities indicated a high level of involvement in the financing of public infrastructures, with major engagement in security and waste disposal/management infrastructures. However, the HICs engaged more in road grading/maintenance, while the provision of community potable water was given as a priority by the L/MICs. The major mode of financing basic communal infrastructures is through membership levy/contribution, and prominent influencing factors are cooperation among members, fundraising and income status. Therefore, while private-sector support funds, such as from the CDAs, help in cushioning the effects of basic infrastructure decay, governments at all levels should provide an enabling environment that will motivate mutual communal relationships through integrated infrastructure policies.
- ItemCausal Effects of Macroeconomic Predictors on Real Estate Investment Trust’s (REIT’s) Performance in Nigeria(Pacific Rim Property Research Journal, 2021) Ajayi, Cyril AyodeleThe paper examined the causal effects of macroeconomic predic tors on the dividend return performance of the Nigerian Real Estate Investment Trusts (N-REITs) the macroeconomic indicators consid ered was interest rate (INTR), an exchange rate (EXGR), inflation rate (INFR), market capitalisation (MKCP) and all share index (ASI). The study is quantitative based on secondary data collected from var ious government institutions and annual financial reports of the Nigeria REITs for the study period (2008–2017). Autoregressive distributed lag (ARDL) and Bound test were used to analyse the data. The result of the Bound test indicated that N-REIT, INTR and ASI with F-statistic values of 11.07, 5.71 and 4.18, respectively, co integrated with other macroeconomic predictors, especially for the variable vectors. ASI with t-stat and prob. value 2.9491 and 0.0065, respectively, implies statistically significant contribution of ASI to REIT performance in the long run (p < 0.05). Through ECM, the series was good at convergence and nonexplosive series ect (−1): −4.98 and p-value 0.0000, the macroeconomic predictors have significant explanatory power on N-REIT performance in the short run. The no capital gain nature of the N-REIT constitutes a limitation in this study, while the competitive dividend return is the driving force for the study.
- ItemCausal Effects of Macroeconomic Predictors on Real Estate Investment Trust’s (REIT’s) Performance in Nigeria(Taylor and Francis Group, 2021-01-18) Fateye, Tosin BabatolaThe paper examined the causal effects of macroeconomic predictors on the dividend return performance of the Nigerian Real Estate Investment Trusts (N-REITs) the macroeconomic indicators considered was interest rate (INTR), an exchange rate (EXGR), inflation rate (INFR), market capitalisation (MKCP) and all share index (ASI). The study is quantitative based on secondary data collected from various government institutions and annual financial reports of the Nigeria REITs for the study period (2008–2017). Autoregressivedistributed lag (ARDL) and Bound test were used to analyse the data. The result of the Bound test indicated that N-REIT, INTR and ASI with F-statistic values of 11.07, 5.71 and 4.18, respectively, cointegrated with other macroeconomic predictors, especially for the variable vectors. ASI with t-stat and prob. value 2.9491 and 0.0065, respectively, implies statistically significant contribution of ASI to REIT performance in the long run (p < 0.05). Through ECM, the series was good at convergence and nonexplosive series ect (−1): −4.98 and p-value 0.0000, the macroeconomic predictors have significant explanatory power on N-REIT performance in the short run. The no capital gain nature of the N-REIT constitutes a limitation in this study, while the competitive dividend return is the driving force for the study.
- ItemCausal Relationship between N-REIT’s Dividend Yield and Money Market Indicators(The University of Cape Town Libraries, South Africa., 2019-03-04) Ajayi, Cyril AyodeleThis paper examined the relationship between the Nigerian Real Estate Investment Trusts (NREITs) and Money Market Indicators (MMIs) which comprise of: Currency in Circulation (CIC), Broad Money Supply (BMS), Corporate-private Sector (CPS), Prime Lending Rate (PLR) and Treasury Bill Rate (TBR). Data for the N-REITs were sourced from the annual published report of SkyeREIT (an indirect real estate investment vehicle of Skye Shelter Fund Plc), while that of the MMI were sourced from the quarterly published bulletins of the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) for the period 2008-2017. The study adopted the Co-integration test, Vector Autoregressive (VAR) and Vector Error Correction Model (VECM). The data collected passed the stationary test at p-value of p<0.05 which implies that the data is fit for Granger Causality Model (GSM) in a VAR environment. The co-integration test at 5% confidence level shows the existence of a partial long-run relationship at p-values of 0.0003, 0.0292 and 0.0297 respectively at the first three orders, while the Max-Eigen rank test was significant at the first order (none) with a p-value of 0.005. The results of the VAR and VEC models showed that CPS, PLR and TBR, with chi-square values of 11.748; 16.589; and 34.778 respectively, significantly affected the performance of N-REITs, while the PLR (4.5798) had a long-run significant effect. The findings provide decision caution for investors, analysts and capital market players when considering investment on securitised real estate assets.
- ItemCausal Relationship between N-REIT’s Dividend Yield and Money Market Indicators(Journal of African Real Estate Research, 2019-03-04) Ajayi, Cyril AyodeleThis paper examined the relationship between the Nigerian Real Estate Investment Trusts (NREITs) and Money Market Indicators (MMIs) which comprise of: Currency in Circulation (CIC), Broad Money Supply (BMS), Corporate-private Sector (CPS), Prime Lending Rate (PLR) and Treasury Bill Rate (TBR). Data for the N-REITs were sourced from the annual published report of SkyeREIT (an indirect real estate investment vehicle of Skye Shelter Fund Plc), while that of the MMI were sourced from the quarterly published bulletins of the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) for the period 2008-2017. The study adopted the Co-integration test, Vector Autoregressive (VAR) and Vector Error Correction Model (VECM). The data collected passed the stationary test at p-value of p<0.05 which implies that the data is fit for Granger Causality Model (GSM) in a VAR environment. The co-integration test at 5% confidence level shows the existence of a partial long-run relationship at p-values of 0.0003, 0.0292 and 0.0297 respectively at the first three orders, while the Max-Eigen rank test was significant at the first order (none) with a p-value of 0.005. The results of the VAR and VEC models showed that CPS, PLR and TBR, with chi-square values of 11.748; 16.589; and 34.778 respectively, significantly affected the performance of N-REITs, while the PLR (4.5798) had a long-run significant effect. The findings provide decision caution for investors, analysts and capital market players when considering investment on securitised real estate assets.
- ItemCausal Relationship between N-REIT’s Dividend Yield and Money Market Indicators(The University of Cape Town Libraries, South Africa., 2019-03-24) Fateye, Tosin BabatolaThis paper examined the relationship between the Nigerian Real Estate Investment Trusts (NREITs) and Money Market Indicators (MMIs) which comprise of: Currency in Circulation (CIC), Broad Money Supply (BMS), Corporate-private Sector (CPS), Prime Lending Rate (PLR) and Treasury Bill Rate (TBR). Data for the N-REITs were sourced from the annual published report of SkyeREIT (an indirect real estate investment vehicle of Skye Shelter Fund Plc), while that of the MMI were sourced from the quarterly published bulletins of the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) for the period 2008-2017. The study adopted the Co-integration test, Vector Autoregressive (VAR) and Vector Error Correction Model (VECM). The data collected passed the stationary test at p-value of p<0.05 which implies that the data is fit for Granger Causality Model (GSM) in a VAR environment. The co-integration test at 5% confidence level shows the existence of a partial long-run relationship at p-values of 0.0003, 0.0292 and 0.0297 respectively at the first three orders, while the Max-Eigen rank test was significant at the first order (none) with a p-value of 0.005. The results of the VAR and VEC models showed that CPS, PLR and TBR, with chi-square values of 11.748; 16.589; and 34.778 respectively, significantly affected the performance of N-REITs, while the PLR (4.5798) had a long-run significant effect. The findings provide decision caution for investors, analysts and capital market players when considering investment on securitised real estate assets.
- ItemChanging Urban Land Use and Neighbourhood Quality: Evidence from Federal Capital Territory (Fct), Abuja, Nigeria(IAEME Publication, 2018-11-11) Fateye, Tosin BabatolaLand use change in more recent times is becoming a natural phenomenon in cities of developing countries. Its causes and consequences were investigated with respect to FCT, Abuja, Nigeria. The responses of registered estate surveying firms (ESFs) practicing in FCT Abuja on the pattern of land use dynamics were obtained and analysed by descriptive statistics such as simple distribution frequency (SDF) and mean weighted score (MWS). Four major findings were discovered. Firstly, the predominantly changing land use were agrarian and residential, secondly the direction of change in land use revolves around public land use, residential, retail and office property with prevailing observations of new development and redevelopment involving renovations/rehabilitations and modifications/alterations. Thirdly the major determinants of land use change were identified as economic and spatial political factors and lastly the noticeable consequences had been arbitrary land/rental value, landscape distortion and pressure on urban infrastructure among others. The study recommended that policymakers and private stakeholders should encourage and adhere to land use control measures to strike a balance between economic development and land administrative system to foster a sustainable urban cities.
- ItemComparative Analysis of Students' Satisfaction with Classroom Facilities in Nigerian Private Universities(Macrothink Institute:Journal of Studies in Education, 2015-11) Ajayi, Cyril AyodeleIn order for educational institutions to meet national and international standards, users preferences becomes an essential determinant of user satisfaction with facilities provided in such institutions. This study evaluates students' satisfaction with classroom facilities in three (3) private Universities in Ado-Odo Local Government Council Area, Ota, Ogun State, Nigeria. A total of five hundred and seventy (570) questionnaires were administered to students, and four hundred and thirty-two (432) representing 76% were returned and analysed. It was found that students were satisfied with electricity supply, ceiling finishes, windows/doors and furniture in their classrooms but, they were not satisfied with the provision and availability of air-conditioning and internet facilities in classrooms. However, when the results were analysed to reflect the findings for each University, they showed different levels of satisfaction and dissatisfaction. The study recommended that the Management of each University should work continuously towards ensuring that this essential facility is given priority in financial decisions and provisions. Essentially, this study would assist University policy-makers to allocate resources more effectively and efficiently since allocation of resources is critical to attaining excellence in a competitive academic environment.
- ItemDeterminants and Effects of Change in Use on Property Rental Value a Case Study Ibara/Oke-Ilewo Area, Abeokuta, Ogun(International Organization of Scientific Research (IOSR), 2016-04-04) Fateye, Tosin BabatolaThe study examined the causes and implications of change-in-use on landed properties’ rental value. 80 questionnaires were administered to practicing estate surveyors and valuers, property agents and developers at Ibara/Oke-Ilewo area of Abeokuta in Ogun state, Nigeria of which 67 (83.75%) were retrieved and analyzed using frequency tables, percentages and Relative Importance Index (RII) ranking model. The study attributed the observed changes in property use in the study area to conversion activities mainly from residential to commercial uses and revealed that internal modifications, vertical increase in floor levels, complete renovations were the major physical change patterns observed consequential to rental increment of the affected properties. Whereas, the significant contributory factors identified were; security, investment potentials, accessibility, infrastructural facilities, agglomeration of business activities and planning regulations, while ease of property management and population size of dwellers were the least determinants of change. The paper recommended obtaining of planning approval prior to any physical re-development, efficient monitoring and site inspections, strict enforcement of land-use-change and developments laws, public sensitization and increased professional advice cum service delivery drive to clients on property conversion and concluded that; change in use and the pace of social and economic developmental growths are mutually.
- ItemEffects of Characteristics of Nigerian Students on Perceived Satisfaction of Academic Facilities in Private Universities in Ogun State, Nigeria(International Association of African Researchers and Reviewers (IAARR), 2014-07-05) Ajayi, Cyril AyodeleStudents' retention amongst the competitive private Universities in Nigeria leads to issues of students' satisfaction which is relatively sparse in literature. This study thereby examined the relationship between selected students' characteristics (sex, age, year of study and type of sponsorship) on the students’ satisfaction in three (3) private Universities in Ado - Odo Local Government Council, Ogun State, Nigeria. A total of four hundred and thirty two (432) questionnaires, representing 76% of the sample size, were used for analysis. The result of the analysis using cross-tabulation, Mann-whitney U Test and Krustal Wallis showed that there is no close relationship between sex, age, year of study and type of sponsorship and satisfaction with academic facilities in the Universities. However, this result is not totally conclusive, particularly for Covenant University, as further analysis revealed that mode of sponsorship is significant. Further research is thereby advocated.
- ItemFactors Influencing the Choice of Automating Systems Used in High-Rise Buildings in Lagos, Nigeria(African Real Estate Society, 2019-09) Awosode, OrayinkaThe consistent change and functions of building systems coupled with the level of sophistication of users of high-rise buildings require that facility managers find innovative ways to control and manage facilities. In this while, the use of automation systems presents facility managers innovative ways of ensuring functionality of the built environment through the integration of people, place, process and technology. These systems must however be selected with care and operated with dedication to achieve desired results. This study examined factors influencing the choice of automating systems in high-rise buildings in Lagos, Nigeria with a view to providing information that could enhance facility management practice. The study selected 53 high-rise commercial buildings based on their high occupancy ratio. Total enumeration of the identified 53 resident facility managers of these high-rise buildings was carried out. Information collected included types of automating system used by facility managers, time of acquisition of automating systems used among others. Descriptive and inferential statistics such as frequency tables, mean ranking and factor analysis were used to analyse the result. Findings of the study revealed that the choice of automating systems used by facility managers was significantly influenced by the cost of acquisition of the automating system, while the need to protect buildings against failure was considered as the most significant factor influencing the adoption of automation in the management of facilities in high-rise buildings. The study concluded that cost of acquiring automating system is the most influencing factor when considering the choice of automation, while the need to protect buildings against failure was considered as the most significant factor influencing the adoption of automation.
- ItemFactors Influencing the Choice of Automating Systems Used in High-Rise Buildings in Lagos, Nigeria(African Real Estate Society, 2019-09) Ajayi, Cyril AyodeleThe consistent change and functions of building systems coupled with the level of sophistication of users of high-rise buildings require that facility managers find innovative ways to control and manage facilities. In this while, the use of automation systems presents facility managers innovative ways of ensuring functionality of the built environment through the integration of people, place, process and technology. These systems must however be selected with care and operated with dedication to achieve desired results. This study examined factors influencing the choice of automating systems in high-rise buildings in Lagos, Nigeria with a view to providing information that could enhance facility management practice. The study selected 53 high-rise commercial buildings based on their high occupancy ratio. Total enumeration of the identified 53 resident facility managers of these high-rise buildings was carried out. Information collected included types of automating system used by facility managers, time of acquisition of automating systems used among others. Descriptive and inferential statistics such as frequency tables, mean ranking and factor analysis were used to analyse the result. Findings of the study revealed that the choice of automating systems used by facility managers was significantly influenced by the cost of acquisition of the automating system, while the need to protect buildings against failure was considered as the most significant factor influencing the adoption of automation in the management of facilities in high-rise buildings. The study concluded that cost of acquiring automating system is the most influencing factor when considering the choice of automation, while the need to protect buildings against failure was considered as the most significant factor influencing the adoption of automation
- ItemImpact of Cemetery on Proximate Residential Property Value(Department of Geography and Environmental Studies, Bahir Dar University, Ethiopia., 2021-01-28) Fateye, Tosin BabatolaThis study examined the probable impact of cemeteries on residential property value. The empirical inquiry aims at determining whether cemetery proximity has any significant bearing on the values of rental homes within its neighbourhood or not. Data was elicited via 150 questionnaires administered on rent paying residents around the neighbourhood of Atan Cemetery in Yaba, Lagos and analyzed using descriptive statistics and ordinary least square (OLS) regression tools. Result revealed that, consonant with earlier foreign studies, cemetery proximity is insignificantly related to rental values of residential properties located within 200 meter distance to the memorial site in the study area. The study concludes that where cemetery facilities receive proper care and attention, the effect of good maintenance could overshadow the associated probable gloomy impact of cemetery proximity to residential area and vice versa.
- ItemThe Impact of Information and Communication Technology on Real Estate Agency in Lagos Metropolis, Nigeria(Emeraldinsight, 2018-03-28) Ajayi, Cyril AyodelePurpose – The purpose of this paper is to evaluate the effect of information and communication technology (ICT) on real estate agency transactions with a view to determine its influence on the performance of estate agents. Design/methodology/approach – A research approach in which questionnaire was administered to elicit relevant information from 220 practicing Estate Surveyors and Valuers surveyed in the course of the study. Data collected were analysed using mean ranking, relative influence index and analysis of variance. Findings – The results showed that the use of ICT impacted positively on real estate agency transactions by promoting company’s brand thereby increasing the level of patronage. Consequently, the increased level of patronage signifies an increase in the level of income of the agents. Research limitations/implications – The study was limited to social media applications otherwise referred to as ICT, which are used in real estate agency transactions. Further study on other ICT media and their effects on more areas of real estate practice in the developing economy may be required. Originality/value – This paper is one of the few works on the impact of ICT on real estate agency transactions with particular reference to the social media networking especially in an emerging economy. Most of the previous studies conducted on ICT and real estate focussed only on internet use with respect to real estate agents and practices. Keywords Impact, Social media, Real estate, Information and communication technology, Developing economy, Agency transactions Paper type Research paper
- ItemImpact of Property Assets’ Management Styles on Effective Service Delivery in South-Western Nigerian Hotels(Canada Centre of Science and Education, 2011-08-04) Ajayi, Cyril AyodeleA survey was conducted on probabilistically determined 57 hotels of various ‘stars’ in South-Western geo-political zone of Nigeria with specific objective of assessing the impact of hotel assets management styles on service delivery effectiveness. Data were collected on hotel organizations through their general managers, staff, and customers in addition to physical assessment of hotel structures and system operations. Stratified sampling technique was used in selecting the samples while Kothari’s formula was used to determine the sample size. Data analysis was executed using descriptive statistics, Spearman Correlation analysis and relative importance index. The findings showed that all the hotels that are using facilities management as assets’ management tool as against maintenance management or property management are more effective in their service delivery. It was recommended that the time is ripe for facilities management principles’ propagation and adoption among hotel operators as an instrument for sustainable hotel development in Nigeria.
- ItemInfill Development and its Attendant Consequences on Neighbourhood Property Value: Evidence from Gwarinpa, Abuja, Nigeria(Transstellar Journal Publications, 2020-06-30) Fateye, Tosin BabatolaThis 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.