Effect of Accessibility on Commercial Property Rental Values Performance in Oja Oba Market, Ilorin Metropolis

Yusuf, Rayyan; Muhammad, Ibrahim Hussaini; Otunola, AbdulAkeem O.; Kayode, Sakariyau Jamiu

doi:10.22178/pos.77-7

Cited by 5 publications

(6 citation statements)

References 10 publications

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“…Facility management is critical to assist an organisation's long-term and short-term core business. According to the International Facility Management Association (IFMA), facilities management is "a profession that encompasses multiple disciplines to ensure the functionality of the built environment by integrating people, place, process, and technology" [17]. It incorporates the business principles of administration, architectural style, behaviour, and engineering science.…”

Section: Literature Reviewmentioning

confidence: 99%

Effect of Facilities Performance and Quality on User’s Satisfaction with Facilities Provided in Industrial Training Fund Building Maitama, Abuja

Oluwadare,

Adegbenga,

Bello

2023

PoS

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The study investigated user satisfaction and performance of facilities management service delivery in private high-rise buildings using the industrial training fund (ITF) house Maitama, Abuja, as a study area. Survey research was carried out through the use of a questionnaire instrument. Three hundred fifty questionnaires were administered to users, of which 304 were retrieved. The simple random sampling technique was adopted for the study, while data obtained from the field were analysed using statistical packages for social. The study found that only pest control services, security facilities (e.g. CCTV), parking facilities, and fire extinguishers were rated well by the respondents in the study area. Results also indicate that users were delighted with leisure facilities (e.g. seating bench), refuse disposal facilities, intercom system and TV reception, and recreational facilities and were satisfied too with fire alarms. Users are happy with the pest control systems in the ITF building, security facilities, parking, fire extinguishers, electricity supply systems, water supply systems and air conditioning.Further findings show that facilities performance explains 78.9% of the variance in user satisfaction which is highly significant (Sig. = .000) as indicated by the F-value of 394.4. Furthermore, standardised Beta coefficients indicate that quality has the most significant beta coefficient of 0.826, thus making the most substantial contribution in explaining user satisfaction which means facilities' performance and quality have a positive and significant effect on user satisfaction. The study concluded that ITF building Maitama, Abuja facilities are performing satisfactorily. This suggests that the building owners and operators must put substantial provisions in place to perform satisfactorily. Finally, the study recommended that owners and management of high-rise buildings must recognise the need to improve the effectiveness of Facilities service to make the buildings more functional and comfortable for users.

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Section: Literature Reviewmentioning

confidence: 99%

Effect of Facilities Performance and Quality on User’s Satisfaction with Facilities Provided in Industrial Training Fund Building Maitama, Abuja

Oluwadare,

Adegbenga,

Bello

2023

PoS

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“…The physical condition of the house is one of the numerous factors that go into determining the level of living. Housing should be of sufficient quality to accomplish minimal health criteria and excellent living standards in every community, while also being affordable to all household types (Rush & Misajon, 2018;Umar et al, 2021;Yusuf et al, 2021). Anidiobu et al (2018) explicitly define the criteria that have to be adhered to.…”

Section: Concept Of Housing and Housing Condition: The Definitionmentioning

confidence: 99%

Socio-Economic Characteristics of Households Determining Housing Satisfaction in Bauchi Metropolis, Bauchi State, Nigeria

Sakariyau

Muhammad

Bello

et al. 2023

INTREST

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Life satisfaction and housing quality are inextricably linked, and socio-economic factors have an impact on both. Low income families in poor quality housing thus bearing the impact of income-related deficits with housing satisfaction. There is potential call for lower-income families to make more frequent housing adjustment in order to be content with less-than-ideal living conditions. In Bauchi, it has been observed that socio-economic characteristics of an individual translates into his earning, thereby influences his choice of location and housing satisfaction. This study's goal was to determine examining the impact of socio-economic characteristics of households on housing satisfaction in the study area. The study employed a quantitative methodology descriptive survey. 380 household heads received a questionnaire, of which 258 were recouped and used for data analysis. Households were surveyed employing stratified random sampling to gather data on the socio-economic characteristics of the households and satisfaction with environmental and physical characteristics. To determine the symbolic importance of the various elements, the gathered questionnaire was subjected to ordinal regression and descriptive statistics. According to the research findings, household’s satisfaction is correlated with their housing. There is significant link between socio-economic indicators and households’ housing satisfaction in the study area. The socio-economic factors in the study area that had a significant impact on housing satisfaction were gender and farming as a form of occupation. The government was advised to build the social facilities that are needed, repair the ones that are in bad shape, and implement the development control requirements as soon as possible.

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“…The convenience of having banking establishments, post offices, medical facilities, and other necessary services available close to where their offices are located is valued by businesses, employees, and clients (Ojok, 2018). A sense of comfort and efficiency is fostered by neighbourhoods with a wide variety of services, which raises the appeal of office space there and may result in higher rental (Yusuf et al, 2021).…”

Section: Locational Determinantsmentioning

confidence: 99%

Office Building Rental Prediction Model Based on Locational Determinants

Mohd,

Harussani,

Masrom

et al. 2023

IJSCET

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The importance of locational determinants in determining rental rates in the office market has long been acknowledged and unquestionably become the significant factor for assessing the rental potential of various property types. Nevertheless, the rapid progressing research that discovers the effect of locational determinants on the rental, limited study that was deeply looked into the provision of location to the rental mainly in Malaysia cases. Thus, this study aims to develop a predictive model for office building rentals based on a comprehensive analysis of locational determinants. To achieve the aims of this study, the objectives was outline which are to identify the determinant factors of location and to analyse the significant determinant factors. Through the application of machine learning, this study captured the intricate connections between rentals and different location-related factors. By leveraging advanced algorithms which are decision trees, random forests, support vector machines and gradient boosted trees, the model can effectively handle diverse datasets, encompassing variables such as proximity to central business districts, access to public transport network, neighbourhood and amenities, and traffic condition. Through rigorous data collection and pre-processing, this study constructs a robust dataset comprising historical rental dataset collected in the city area of Kuala Lumpur, Malaysia acquired from Property Services Department (JPPH) were used to train and validate the predictive model via R-squared performance metrics. The results indicate that proximity to Central Business District (CBD) emerges as a significant determinant with the most contribution to the model’s prediction, with offices located in close proximity commanding higher rentals. This study provides valuable insights into the prediction of office building rentals based on locational determinants, offering a practical tool for stakeholders in the real estate industry.

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Effect of Accessibility on Commercial Property Rental Values Performance in Oja Oba Market, Ilorin Metropolis

Cited by 5 publications

References 10 publications

Effect of Facilities Performance and Quality on User’s Satisfaction with Facilities Provided in Industrial Training Fund Building Maitama, Abuja

Effect of Facilities Performance and Quality on User’s Satisfaction with Facilities Provided in Industrial Training Fund Building Maitama, Abuja

Socio-Economic Characteristics of Households Determining Housing Satisfaction in Bauchi Metropolis, Bauchi State, Nigeria

Office Building Rental Prediction Model Based on Locational Determinants

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