Every rational investor aimed to secure an optimum return from an investment at certain level of risk. However, the factors that affect the realization of the expected return are not known with certainty. Therefore, the reliability of a single point estimate for investment decision is debatable particularly when the likelihood of realizing the expected return is crucial to the investor. This study aimed at examining a better method of analysing the uncertainty in property investment rather than the use of the single point estimate formula. We collected a set of historic data from a multi-tenanted office complex in Akure to carry out the investment analysis using Monte Carlo simulation and Discounted Cash Flow Technique. The results from the study were compared and revealed that the single point estimate accounted for a huge level of risk as probability of realizing the expected return is unknown. The Monte Carlo simulation offers a more robust opportunity for a measured investment decisions by providing a probability of realizing different level of the expected returns. The study concludes that it is difficult to make a smart investment decision on a single point estimate. It therefore recommends the use of Monte Carlo simulation for property investment analysis for a more realistic return.
The paper appraises the maintenance practice and residents' satisfaction of public housing estates in Osogbo, Nigeria with a view to encouraging best practices and adequate maintenance strategies in a proposition to preserving the existing housing stock and enhanced maintenance of public estates in the study area. One Hundred and Five (105) questionnaires were distributed among the residents of two (2) residential estates and 97 questionnaires were retrieved, representing 92.40%. Opinion of the Estate Surveyors and Valuers was also sought on the factors affecting maintenance in public housing estate. Analysis was carried out through the use of mean, severity index, cross-tabulation and Chi-Square test of association. It was discovered that there is no statistically significant relationship between maintenance practice and public services alongside infrastructures in the estates. Although, there is a significant relationship between occupants' level of satisfaction with maintenance of public services and infrastructures; the Phi and Cramer's V tests revealed a very weak strength in the association. The paper therefore suggests an integrated maintenance approach for effective upkeep of public estates infrastructures and facilities.
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