Analysis of the Effects of Building Use Conversion on Property Values in Ogui-Enugu (2011– 2021)

• Author(s): Ebube Ogonna Angela ; Emoh Fidelis Ifeanyi
• Paper ID: 1703299
• Page: 422-436
• Published Date: 30-03-2022
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 5 Issue 9 March-2022

Abstract

The conversion of use of buildings in cities of the developing world is often from residential to commercial with the latter having serious impacts or diseconomies on the adjacent residences and their occupants. The aim of the study is to analyze the effects of building use conversion on property values in Enugu urban between the year 2011 and 2021 with a view to identifying the causes of change in use in the study area. The specific objectives of the study includes; To determine the reasons behind the building use conversion activities in Ogui between 2011 to 2021, To evaluate the perceived effects (negative and positive) of building use conversion activities in Ogui new layout between 2011 to 2021, To examine the trend in land values (rental values and capital value of properties) in Ogui new layout between 2011 to 2021, To analyse the relationship between building use conversion activities and property values in Ogui new layout between 2011 to 2021. Taro Yamane formula was applied to three categories of persons who were administered questionnaire; Registered Estate Surveyors and Valuers in Enugu Urban (72), Real Estate Developers Association of Nigeria Enugu Branch (14) and Tenants/Occupants along Ogui Road (152). A total of 238 questionnaires were distributed; 232 questionnaires were retrieved representing 97.5% which was used for statistical analysis. The hypothesis stipulated that there is no significant relationship between building use conversion and property values in Ogui new layout. There is no significant difference in the perception of property managers and residents regarding the effects of building use conversion in Ogui new layout. Data collected were presented using tables and charts while hypothesis 1 and 2 were tested using the Chi Square and Regression Analysis respectively. The study found consistent rise in the value of landed properties within Ogui new layout between (2011-2021); with the highest rise in value of properties being observed on tenement houses. However, changes in the value of landed properties within Ogui new layout occurred mainly between year 2013 upwards to year 2021, while the value of land properties remained relatively the same between year 2011 and 2012. The study recommended that Government and planning authorities should ensure that the use of each area should be limited to what it was originally zoned for, so that conversion of the residential properties to commercial is reduced. The government should also increase the levies charged for conversion of properties as this will reduce the amount of conversions that take place in a year.

Keywords

Building Use, Conversion, Property Values, Ogui Enugu.

Citations

IRE Journals:
Ebube Ogonna Angela , Emoh Fidelis Ifeanyi "Analysis of the Effects of Building Use Conversion on Property Values in Ogui-Enugu (2011– 2021)" Iconic Research And Engineering Journals Volume 5 Issue 9 2022 Page 422-436

IEEE:
Ebube Ogonna Angela , Emoh Fidelis Ifeanyi "Analysis of the Effects of Building Use Conversion on Property Values in Ogui-Enugu (2011– 2021)" Iconic Research And Engineering Journals, 5(9)