ABSTRACT
Shelter is
one of the most basic needs of man and inadequate supply of housing is a
universal urban problem, more so in the less developed and developed countries.
It is also acceptable that there are some links between the rate and degree of
urbanization and the housing programmes is increasingly gaining acceptance as a
viable method of dealing with the urban housing needs.
The research objective of the study was
to find out if the public housing scheme has a significant effect on property
value or not
The
literacy and illiteracy level of the occupiers in the selected scheme served as
a form of hindrance for data collection when having a personal interview with the
occupants, also the bureaucratic nature or process involved in obtaining
information from the residents within the area of study and relevant data
needed from the government agencies and the professional Estate Surveyors and
valuers served as an hindrance for proper data collection for the study.
Finding
shows that that insufficient land space together with cost and ease of land
acquisition; instability in government policy, lack of finance needed for
housing development, high interest rate, operation of the mortgage
institutions, cost of building materials; increase in rent; selection of
tenants, maintenance culture; inability of private and public sector
practitioners to foster mutual synergy in housing provision and the growing
population of the urban poor were identified as major challenges surcharging
housing provision in the study area.
It was recommended that regulatory
framework that support robust macro and micro economy should be pursue so that
the earning capacity of the people can readily match up with inflation trend
which unfortunately is impacting negatively on many household and their hope of
better shelter
Conclusively, the adequacy of
provision of social and physical infrastructure in public housing schemes and
how effectively the schemes have been integrated into the larger urban
environment and how it has affected property value in the study area seems to
be premised on the concept of value which arguably is plausible in the sense
that the market is seen as a clearing house for the determination of worth of
an interest in property provided the fair market requirement are met.
TABLE OF CONTENT
Contents Pages
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Table of contents v
- vii
List of Tables vii –ix
List of figures ix-xi
Abstract xii
CHAPTER ONE: GENERAL INTRODUCTION
1.1
Introduction 1
1.2
Statement of problem 3
1.3
Aim and objectives 4
1.4
Research Hypothesis 4
1.5
Scope of study 5
1.6
Significance of
study 5
1.7
Limitation of
study 5
1.8
Definitions of terms 6
References 7
CHAPTER TWO: REVIEW OF RELEVANT LITERATURE
2.1 Introduction
8
2.2 Historical Background of Housing 8
2.3 Concept of Housing 15
2.3.1 Contribution of Public Housing Sector into
Housing stock
of
Lagos Metropolis. 16
2.4 Factors
Affecting Property Value 19
2.4.1 Effect of public housing scheme on property
value 22
2.4.2 The
Challenges between the Public and Private Housing Sector 23
2.4.3 Problems Confronting the Public Housing Schemes 27
2.4.4 Housing Delivery 28
2.4.5 Housing Need 30
2.4.6 Roles of housing corporations in Nigeria 31
2.4.7 Constraints facing Housing Corporation in Nigeria 35
References 40
CHAPTER: THREE RESEARCH METHODOLOGY AND STUDY
AREA/ CASE STUDY
3.1 Introduction 42
3.2 Restatement of Research Hypothesis 42
3.2 .1 Restatement of Research Objectives 42
3.3 Sources of Data 43
3.3.1 Primary Source 43
3.3.2 Secondary Data 43
3.4 Characteristics of population of study 43
3.5 Sampling
Techniques 43
3.5.1 Sampling Design 43
3.5.2 Sampling Procedure 44
3.5.3 Determination of Sampling Size 44
3.6 Questionnaire Administration 44
3.6.1 Questionnaire Design 45
3.6.2 Questionnaire
Distribution 45
3.6.3 Collection of Responses 46
3.7 Techniques of Data Analysis 46
3.8 Limitation of Research Methodology 46
3.8.1 Historical
Background of Lagos
State 47
3.8.2 Study
Area / Case Study 48
Reference 49
CHAPTER FOUR: DATA PRESENTATION AND
ANALYSIS
4.1
Introduction
4.2
Presentation and Analysis of Data according to response
to the research
4.3
Presentation and Analysis of Data based on research
objectives
4.4
Analysis of other Relevant Data
References
CHAPTER FIVE: SUMMARY OF FINDINGS,
RECOMMENDATIONS, CONCLUSION AND SUGGESTION FOR FURTHER STUDIES
5.1
Summary
5.2
Recommendations based on Research Findings
5.3
Conclusion
5.4
Suggestion for
Further Studies
References
Bibliography
Appendix
LIST OF TABLES
Pages
4.1 Period of Occupancy 51
4.2 Type of Accommodation available 52
4.3 Satisfactory level of accommodation. 53
4.4 Rental income of properties. 54
4.5 Willingness to pay
higher rent if facilities are improved 55
4.6 Adequacy of water supply in the estate. 56
4.7 Adequacy of Electricity Supply in the estate. 56
4.8 Adequacy
and functional roads network within the estate. 57
4.9 Adequacy of Telephone Service in the estate. 57
4.2.10 Adequacy of Fire Service Station in the estate 58
4.11 Adequacy of Petrol Filling Station in the estate 58
4.12 Adequate Learning Institutes in the estate. 59
4.13 Adequacy of Recreational Facilities in the Estate. 59
4.14 Adequacy of Water Supply in the neighbourhood. 60
4.15 Adequacy of Electricity Supply in the neighbourhood. 60
4.16 Adequacy of Road Networks in the neighbourhood. 61
4.17 Adequacy of Telephone Service in the neighbourhood. 61
4.18 Adequacy of Fire Service Station in the neighbourhood. 62
4.19 Adequacy of Petrol Filling Station in the neighbourhood 62
4.20 Adequacy of Learning Institute in the neighbourhood. 63
4.21 Adequacy of Recreational Facilities in the neighbourhood. 63
4.22 Period of ownership in the estate. 64
4.23 Rent review of the respondents. 65
4.24 Interest subsisting from the property 66
4.25 Housing units owned. 67
4.26 Management practice in the estate. 68
4.27 Adequacy
of rental value in the estate compared with similar 69
property in the neighbourhood
4.28 Tenant/Landlord association within the estate. 70
4.29 Maintenance of the estate. 71
4.30 Successful factors affecting the estate 71-72
4.31 Relationship between public and private housing schemes. 73
4.32 Problems confronting
public housing scheme in Lagos. 74
4.33 Position held in the
firm 75
4.34 Educational Qualification 76
4.35 Years of practicing 77
4.36 Relationship between public & private housing sector 78
4.37 LSDPC ability to meet housing demands in Lagos 79
4.38 Problem confronting LSDPC in housing provision 80
4.39 Existing relationship between tenant and landlord 81
4.40 Clients (landlord/tenants/agent) problematic? 82
4.41 Causes of clients problems 83
4.42 Effect of housing finance on housing provision. 84
4.43 Cost of building
material influence on public housing 84
provision.
4.44 Interest rate
influence on public housing provisions 85
4.45 Ease of land
acquisition influence on public housing 85
provision.
4.46 Influence of
government policy on housing provision 86
4.47 Influence of mortgage
institutions operation on housing 86
provision
4.48 Development of low
cost housing influences housing 87
provision.
4.49 Private sector
partnership influence on housing provision. 87
4.50 Influence of site and
service scheme on housing provision. 88
4.51 Effect of
accessibility on property value (rental). 88
4.52 Effect of
complementary uses on property value (rental) 89
4.53 Effect of location on
property value (rental value) 89
4.54 Rate of return
effects on property value (rental) 90
4.55 Property condition
influence on property value. 90
LIST OF FIGURES
Pages
4.1 Period of Occupancy 51
4.2 Type of Accommodation available 52
4.3 Satisfactory level of accommodation. 53
4.4 Rental income of properties. 54
4.5 Willingness to pay
higher rent if facilities are improved 55
4.22 Period of ownership in the estate. 64
4.23 Rent review of the respondents. 65
4.24 Interest subsisting from the property 66
4.25 Housing units owned. 67
4.26 Management practice in the estate. 68
4.27 Adequacy
of rental value in the estate compared with similar 69
property in the neighbourhood
4.28 Tenant/Landlord association within the estate. 70
4.30 Successful factors affecting the estate 71-72
4.31 Relationship between public and private housing schemes. 73
4.32 Problems confronting
public housing scheme in Lagos. 74
4.33 Position held in the
firm 75
4.34 Educational Qualification 76
4.35 Years of practicing 77
4.36 Relationship between public & private housing sector 78
4.37 LSDPC ability to meet housing demands in Lagos 79
4.38 Problem confronting LSDPC in housing provision 80
4.39 Existing relationship between tenant and landlord 81
4.40 Clients (landlord/tenants/agent) problematic? 82
4.41 Causes of clients problems 83
CHAPTER ONE
1.1 INTRODUCTION
Housing is the process of providing a
large number of residential buildings on a permanent basis in the adequate
physical infrastructural and social services in planned, decent, safe and
sanitary neighborhoods to meet the basic and spatial need of the population.
Housing can also be simply described
as the provision of habitable shelter in a decent environment for human beings.
Housing is also seen as a right
because of its importance in ensuring protection, safety and meeting the
physiological and psychological aspiration of the people irrespective of age,
sex, race, religion or any other means into which people in the world over
could be differentiated.
One of the greatest challenges facing
metropolitan Lagos
is housing. The considerable gap between supply and demand has found expression
in the astronomical cost of rental value on dwellings. Overcrowding, slums and
substandard housing are expression of this problem. Prior to 1928, before the government
declared the provision of public housing in the Third National Development Plan
1975 -80, planned residential areas in Lagos
was limited thereby resulted to an increase in both rental and capital value of
available dwellings. These led to the emergence, in 1928, of the pioneer
planning authority in Nigeria,
the Lagos Executive Development Board (LEDB), which embarked on slum clearance
and the relocation of families from the Island
to the mainland at surulere. Since then, the activities of planning authorities
have assumed considerable importance in metropolitan Lagos.
In the provision of sufficient
housing delivery by the government, the government established in 1956 the
Ikeja Area Planning Authority (IAPA), to control development in the part of the
metropolis outside the then Federal Capital Territory. In 1958, the Western
Nigeria Housing Corporation was created by the former Western Region government
with the responsibility of providing housing finance for the execution of
housing schemes.
In 1972, the Lagos Executive
Development Board (LEDB), the IAPA, and the Epe Town planning Authority were
merged together to form the Lagos State Development and Property Corporation
(LSDPC) to stimulate greater efficiency and eliminate delay, waste and
duplication of responsibilities in the housing sector. The houses built by some
of these authorities include the LSDPC low income housing and medium income
housing (1979) and the Surulere housing scheme provided by the Lagos Executive
Development Board (LEDB) 1955 -1975.
Nevertheless, the problem persists
mostly because of rapid population growth, also because of the introduction of
Structural Adjustment Programme (SAP) in 1986, and the three fold increase in
price of petroleum fuel in 1994. Also, the Federal Government housing programme
for Lagos,
which was launched in 1994 under the National Housing Scheme, has stalled,
among other reasons because of the spiraling cost of building materials etc.
had made the provision of housing scheme insufficient for the public thereby
constituting a great effect on the value of existing dwellings.
The focus of the study is therefore
to examine those factors that determine the rental value (to be precise) of the
selected scheme in Lagos
as it will be compared with similar properties in the neighbourhood.
1.2 STATEMENT OF PROBLEM
The housing problem in this country
has always attracted a lot of attention in government’s social and economical
planning policies. Studies of different types are often carried out on the
subject both government and non-governmental agencies and institutions.
Large scale public participation in
providing housing has always been advocated as a vital means of alleviating the
housing problem as housing particularly for the low income group, has hardly
ever been able to complete adequately with other forms of investment in
attracting capital from the private sector of the economy.
The need for government to provide
housing as part of essential social services has already been well emphasized
and recognized. But the issues that have not been appreciated are the nature
and form of government participation in term of:
What form of housing? For whom? In
what location? But due to the degree and urgency of the problem, attention on
the issue has very often been concentrated on the question of providing as many
housing units, as quickly and in as many locations as is financially and
physically feasible.
The co-ordination, implementation and
management of various housing projects have absorbed so much efforts that
little attention has been spared for equally important issue of studying and
reflecting on and evaluating the implications, results or deficiencies of
current policies. It has been suggested that on the question of cost, location
and qualities of housing for the low income majority of city residents in Lagos,
the approach so far has been elitist and largely irrelevant and even
detrimental due to the fact that efforts have been “project oriented rather
than problem oriented” which has presently resulted to reduction in value of
most public housing. It therefore, necessary at this stage to study and
scientifically evaluate the effect of the already executed schemes as a means
of more effective application of past and present schemes on property value.
1.3 AIM AND OBJECTIVES
The aim of the study is broadly to
find out the effect of public housing scheme on property value, a case study of
Lagos
metropolis.
The above can be achieved by the
following objectives;
i.
To
determine the factors that affect property value in Iponri housing estate.
ii.
To
examine the public housing schemes that is, Iponri Housing Estate Surulere on
property values.
iii.
To
analyse the correlation between public and private housing schemes.
iv.
To
find out the problems confronting the public housing schemes in Lagos metropolis.
v.
To
proffer way forward in the gray area of housing on property values.
1.4 RESEARCH HYPOTHESIS
H0: The public housing scheme has
significant effect on property value.
H1: The public housing scheme has no
significant effect on property value.
1.5 SCOPE OF STUDY
The study is limited to the effect of
public housing schemes on property value in Lagos metropolis, a study of Iponri Housing
Estate Surulere, Lagos.
To examine how this scheme has
reduced or increased the rental value of similar units within the neighborhood.
1.6 SIGNIFICANCE OF STUDY
This work will serve as a data bank
for researchers and students working on similar project. Any problem identified
in the study area with relevant suggestions could be used as a means of
treating similar cases in other parts of Lagos State.
Finally, the findings could lead to
further studies in related areas by other researchers in the future.
1.7 LIMITATIONS OF STUDY
The following serves as limitation in
the process of procuring the necessary data and information:
1
Financial
constraint which directly and indirectly affect the dissertation of the
pertinent information and data.
2
Inavailability
of necessary research materials such as textbooks, journals, e.t.c and where
they are available, they are inaccessible.
3
Also,
the literacy and illiteracy level of the occupiers in the selected scheme may
be a form of hindrance for data collection when having a personal interview
with them.
4
Low
rate of response gotten from the questionnaire administered due to the unwillingness
of the respondents to diverge all necessary information to assist the
dissertation.
5
The
bureaucratic nature or process involved in obtaining information from the
residents within the area of study and relevant data needed from the government
agencies and the professional Estate Surveyors.
1.8 DEFINITION OF TERM
1.
HOUSING: Is the process of providing large
number of residential building on a permanent basis in the adequate physical
infrastructure and social services in planned, decent, safe and sanitary
neighbourhood.
2.
PUBLIC HOUSING: Refers to the government effort in
making land available for housing schemes to be delivered to the individual.
3.
PROPERTY: This is the exclusive right of
possessing, enjoying and disposing of a thing. It is also refers to as a
“bundle of rights”
4.
PROPERTY VALUE: This is the worth of an interest in
land and landed properties or claim on chattels assessed by appropriate
valuation methods.
5.
SCHEMES: These are activities undertaken
either by the government or individuals to enhance the value of the
neighbourhood or property so as to meet the changes in demand of the society
6.
DEVELOPMENT: This is defined as the carrying out
of building, engineering mining or other operations in, on, over or under the
land or the making of any material changes in the use of any building or other
land.
7.
RESIDENTIAL PROPERTY: Can be described as building that
provides accommodation to its dwellers. It protects its inhabitants against
environmental hardship such as weather effect and rainfall.
8.
VALUE: This is an estimated price that
would be achieved if property or other articles were to be sold in the open
market.
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