Department of Estate Manangement

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    Justification of quinquennial revaluation of properties for rating assessment: A case of Garki Area 2 Abuja, Nigeria
    (International Conference on Science, Engineering and Business for Driving Sustainable Development, 2024) Iroham, Chukwuemeka O.; Okagbue, Hilary I.; Frank-Amadi, Favour C.; Munyemana, Samuel
    —There is an arbitrary undertaking of the quinquennial revaluation exercise. Even though it is imposed as a legislative provision in rating assessment, the frequency of revaluation of hereditament does not appear scientific and as such cannot be justified on the grounds of re-search. This study thereby sought for a scientific justification of the regular revaluation intervals in rating assessment. The focus of study was hinged on Garki Area 2 Abuja in the Federal Capital Territory of Nigeria, noted for its consistency in rating administration. Data on annual values of the various residential property types for the years of assessment (2016-2021) were sought from the occupants from where envisaged property rates payable were determined. The use of descriptive and inferential statistics of frequency distribution, mean, variance, the Analysis of Variance (ANOVA) and a Post Hoc Fisher’s Least Significance Difference revealed that rate payments begin to show significant difference at the third year of assessment having a p value of 0.013. Hence, the study recommended that the quinquennial revaluation exercise is not justified but rather be replaced by triennial assessment amended by enabling laws which would not just hedge against administrative costs in rating assessment but ensure that loss of revenue from property rating is at least drastically reduced.
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    STATISTICAL MODELING OF THE RELATIONSHIP BETWEEN CITESCORE AND JOURNAL PERCENTILES OF BUILDING AND CONSTRUCTION JOURNALS
    (Pushpa Publishing House, 2023) Peter, N. J.; Iroham, Chukwuemeka O.
    Building and construction are one of the major subject categories in Scopus, Elsevier. Building and construction journals are journals that publish articles and review papers in all areas of building, construction, structures, construction materials, civil engineering, and building and construction management amongst others. This paper proposes a modified quartile model which can be used to predict the journal percentile using the CiteScore as the independent variable. The model evaluation metrics signal a good fit and the proposed model yielded journal percentile (JP) close to the original JP. The knowledge of the CiteScore can now be used to predict the percentile and by extension, the quartile of journals in building and construction in Scopus or Web of Science.
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    Three attributes determining land values in three selected housing estates in Uyo, Nigeria
    (Frontiers in Sustainable Cities, 2024) Iroham, Chukwuemeka O.; Okagbue, Hilary I.; Ekanem, Inimfon F.; Peter, N. J.; Samuel, Olugbemisola W.; Nto, Sunday E.; Isiaka, Saheed; Adedotun, Adedayo F.
    There is a knowledge gap regarding the specific attributes (location-specific, environmental, and neighborhood) that impact land value, the relationship among these attributes, and the degree of impact on the land values in residential estates in Uyo, Nigeria. The three factors all combine to create a unique picture of a place, impacting its desirability and ultimately, its land value. This study explores the relationship between various land value attributes within specific residential estates (Ewet Housing Estate, Shelter Afrique Estate, and Akwa-Ima Estate) in Uyo. A questionnaire was designed and used to solicit data from the respondents living in the three estates with the aid of the purposive sampling technique. The findings revealed the following: Closeness to school is the location-specific attribute that contributes the most to land value, and closeness to recreational centers contributes the least. The presence of security and police stations had the most significant contribution to land value, and the presence of noise in the neighborhood had the least significant contribution. Peace, quiet, and beauty had the most significant contribution to land value, and the presence of lakes and water bodies in the environment contributed the least to land value. The factor analysis yielded two major factors for location-specific attributes: ‘transport’ and ‘place’. The factor analysis grouped the neighborhood attributes into two factors: ‘easily controlled’ and ‘not easily controlled’. All three attributes of land values are positively correlated with one another. Implications for research and recommendations were made.
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    Effects of climate change on residential properties in Wemabod Estate, Ikeja, Lagos State, Nigeria
    (Frontiers in Sustainable Cities, 2024-10) Peter, N. J.; Okagbue, Hilary I.; Adelowo, Mofetoluwa G.; Samuel, Olugbemisola W.; Iroham. Chukwuemeka O.; Nto, Sunday E.
    The real estate sector is significantly impacted by climate change, with effects ranging from increasing risks of flooding and wildfires to shifting demand for certain types of property. These impacts influence insurance prices, property maintenance procedures, and the overall desirability of specific homes. While climate risk is acknowledged in the financial industry, its implications for the commercial and residential real estate sector are mostly studied in developed countries, with limited research in developing countries like Nigeria. This study attempts to fill this gap by exploring the potential impacts of climate change on residential properties in Lagos State, Nigeria, using Wemabod properties as a case study. The methodology involved analyzing primary data collected from residents of Wemabod Estate, Ikeja, Lagos, Nigeria, with purposive sampling used to recruit 100 participants due to absence of reliable census data. Data analysis was conducted using mean rank, t-test, and analysis of variance (ANOVA). Findings showed that most respondents demonstrated a good level of awareness about climate change. Analysis revealed that residential characteristics such as age, gender, level of education, and knowledge level of climate risk significantly influenced residents’ climate change coping and adaptation strategies, with notable mean differences in knowledge and perception based on these factors. The major perceived effects of climate change included extreme heat and flooding, followed by strong winds and irregular rainfall, leading to property impacts such as peeling paint, wall cracks, roof leakage, foundation shake, and burst pipes. These findings indicate that extreme heat and flooding are the primary climate change manifestations affecting residential properties in Lagos State. Property owners should implement measures to protect against these effects, regularly inspect and maintain their properties, consider climate risk in their insurance and maintenance plans, and stay informed about climate change impacts. This study underscores the need for further research on climate change’s impact on real estate in developing countries to better understand and mitigate these risks.
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    CLIENT SATISFACTION IN PROPERTY MANAGEMENT BY ESTATE SURVEYORS AND VALUERS AND LEGAL PRACTITIONERS: A CASE OF RIVTAF GOLF ESTATE, PORT HARCOURT, NIGERIA
    (International Conference on Science, Engineering and Business for Driving Sustainable Development Goals (SEB4SDG) |, 2024) Iroham, Chukwuemeka O.; Chike-Chuku, Chizzy D.; Okagbue, Hilary I.; Munyemana, Samuel
    There has been clamor by Estate Surveyors and Valuers that her statutorily role of which property management forms part is being infiltrated by other personnel, professionals and non-professionals inclusive. The lawyers are regarded as the major rival in this statutory duty. The study thereby studied the satisfaction derived by clients, either as tenants or landlords, who are the end users of this service provided when the management of properties is done by estate surveyors and valuers and when managed by lawyers. The study which had a focus on RIVTAF Golf Estate, Port-Harcourt, Rivers State was aimed at determining if any significant difference exists between the satisfaction of clients in property management handled by the two professionals. The study entailed the distribution of 286 questionnaires of which 249 were retrieved. The collected data were properly presented in frequency and percentage tables and analyzed using the Chi-square test of significance to verify the hypotheses. The study revealed a significant difference in the satisfaction of client from management of properties managed by both professionals. However, the difference was not significant when compared amongst clients in the management of properties by estate surveyors and valuers particularly with respect to collection of rents and other required rates and also being seem as having the requisite skills to act as property managers. The study however enjoined estate surveyors and valuers in gaining mastery of management of the property so as to avoid needless competition amongst other professionals/ personnel.
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    Adoption of Inclusive Architecture Design Strategies in Selected Community Centres, Lagos Mainland, Nigeria
    (Civil Engineering and Architecture 12(6), 2024) Adewale, B. A.; Odewumi, Anuoluwa Nissi
    Community centres play a variety of important responsibilities in communities. They function as cohesive environments, fostering the convergence of individuals from diverse backgrounds to engage in collaborative endeavours and promote inclusion, which is essential for sustainable urban development. This study examined the adoption of inclusive architecture strategies in three selected community centres in Lagos Mainland, Nigeria – Araromi Youth Development Centre, Magodo Residents Association Community Centre, and Ikeja Youth Centre, in order to improve inclusion in public spaces and foster sustainable urban development. Employing a qualitative approach, the research aimed to evaluate the adoption level of inclusive architecture strategies in the study area. Utilising an observation guide as a research instrument supported by a thorough literature review, the study conducted in-depth case studies within the study area, revealing commendable levels of adoption. However, a deeper examination reveals opportunities for greater adoption of inclusive architecture strategies in order to achieve a more holistic and inclusive design aligned with global standards. This study also offers significant implications in the field of architecture as it provides a comprehensive framework that future research can use to assess and compare the inclusiveness of different public spaces. This research underscores the pressing need for enhanced inclusivity in urban spaces and public areas, contributing valuable insights to academic discussions and offering practical implications for educators, architects, urban planners, and policymakers, thus fostering inclusivity and sustainable urban development.
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    Interaction of drivers and barriers of sustainable property management practice in shopping malls in Lagos, Nigeria
    (Frontiers in Built Environment, 2025-01) Nyirenda, Lumbani B.; Ayedun, C. A.; Musonda, Innocent; Iroham, Chukwuemeka O.; Olukanni, David O.; Okagbue, Hilary I.; Samuel, Olugbemisola W.; Nto, Sunday E.
    Extant studies on sustainable property management (SPM) are yet to be reported for shopping malls in developing countries. Shopping malls play a vital role in commercial activities in developing countries. This study investigates the strategies and the interaction of the drivers and barriers to SPM practice being adopted in the management of three randomly selected shopping malls in Lagos, Nigeria. The primary data utilized were elicited with the aid of a questionnaire served on 130 tenants of the three shopping malls. The obtained data were analyzed using statistical tools such as mean ranking, frequency distribution, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and mediation analysis. LED energy saving bulbs (90%) and green leasing (6.9%) are the most and least adopted features while using environmental cleaning procedures (83%) and adopting green leasing (36.4%) are the top and least SPM adopted strategy. Health and wellbeing of occupants (88.4%), cost savings (87%) and regulatory requirements (85%) were ranked the top three drivers while EFA grouped the factors into 2: direct and indirect. Financial and economic barrier (4.2/5) were top while cultural factors (3.97/5) were the least. The interactions of the latent barrier factors were exposed by the CFA and mediated regression models. In conclusion, this article explored SPM within shopping mall operations, presenting evidences that, while beneficial in reinforcing the relevance of sustainability in the real estate sector, ultimately contributes modestly to the broader academic discourse on the subject.
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    Value Pertinence for Residential Property Investments in Christian Mission Estates: An Investigation of Canaan City in Ogun State, Nigeria
    (Journal of Civil Engineering and Urbanism Volume 12, Issue 4: 61-69;, 2022-12) Akinjare, Omolade Adedoyin; Akinjare, Victoria Adeola; Ayedun, C. A.; Oluwatobi, Afolasade Olubunmi; Alexander, Matilder Nomteik
    The rapid expansion and urbanization of Lagos state of Nigeria due to uncontrolled rural - urban migration seems to have succeeded in transforming the peri-urban areas of Ota, Ogun state into a mini economic hub, thus propelling property values skywards. The present study ascertains if passing rents, as well as sales value for the various apartments in Canaan city estate as charged by the project developer, is overpriced, and underpriced or fair-priced. The rental data collected from the residents of the estate were compared with rental opinion obtained from practicing estate surveyors and valuers in Ogun State. 240 questionnaires were administered to residents of the estate while 22 questionnaires were administered to registered estate surveying and valuation firms. Interviews and questionnaires were deployed to solicit data from the Physical Planning Department (PPD) being the managers of the estate. The retrieved data were then collated and presented using figures and Tables. Findings showed that the passing rents for all cadres of residential apartments in the estate were discounted with the most discounted apartment type being the 2-bedroom luxury flats and the least discounted apartment type being the 4-bedroom semi-detached houses. For sales value, findings showed that the high end apartments – the detached houses, semi-detached and also the 3- bedroom terrace houses were hugely discounted. Unfortunately, the 1-bedroom and 2-bedroom flats were the least discounted while the 2-bedroom luxury flats and 3-bedroom flats were either within range or slightly overpriced. The study concluded that the passing rents were underpriced due to the income nature of tenants and subsequently, the sales value proposed by the developer of the estate was underpriced. The study recommended an upward review of sales prices should the estate proprietor still continue with the sales of its apartment within Canaan city
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    Methods of Intellectual Property Valuation in Nigeria: Preference of Estate Surveyors and Valuers in Southwest, Nigeria.
    (Journal of Harbin Engineering University Vol 46 No. 7, 2025-06) Ibisola, A. S.; Ayedun, C. A.; OLOKE, Olayinka C.
    Estate Surveyors and Valuers (ESVs) are by laws, education and training recognised and adjudged as the most qualified professionals to determine the value of interests in property in Nigeria. In doing this, many processes and ingredients are necessary to be blended together to arrive at acceptable and market compliance value. One of such tools or ingredients are the methods of valuation adopted in the course of the valuation processes for different purposes and at a specific point in time. This study evaluates the preference of ESVs among the various methods of IP valuation in Nigeria. Total number of 247 questionnaires was used to elicit data from the practicing ESVs in Southwest, Nigeria. The data obtained were analysed with the use of Relative Importance Index (RII). It was found that the sampled ESVs preferred the use of Rule of Thumbs methods of IP valuation on the basis that the methods are very easy to use and devoid of rigorous calculations. Findings further showed that ESVs preferred the use of Discounted Cash Flow (DCF) and premium profits approaches as variants of income-based methods. The study therefore recommended the inclusion of valuation of IP in the valuation curricula of institutions offering Estate Management in the study area.
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    Investigating the dynamics of financial risk impact on property development in Lagos state, Nigeria
    (ICSSD 2024 (IOP Conf. Series: Earth and Environmental Science), 2025) OLOKE, Olayinka C.; Adenekan, P. J.; Nwaniocha-Emegha, C. K.; Nwanwko, C. F.
    This study examines the dynamics of risks of financing real estate development in Nigeria with particular emphasis on property development projects in Lagos state, taking into cognizance the current wave of macroeconomic instability in the country. Property development companies and real estate surveying and valuation firms that are involved in property development and registered with the Real Estate Developers Association of Nigeria (REDAN) constituted the study focus. Convenience sampling technique was engaged to select 100 respondents for the administration of questionnaires and a response rate of 86% was achieved. Basic statistical tools of frequency, percentages, charts as well as principal component analysis were engaged for data analysis which was eventually presented in tables, text and charts. Findings revealed amongst others that residential property development constituted the largest portfolio of development projects among the firms while regulatory risks, financial risk and market risks constituted the top three challenging risk facing real estate development projects in recent times. The study suggests the use of foreign direct investment in the form of off-shore finance procurement and patronage. The study also recommends dedicated team of professionals to oversee and ensure necessary regulatory compliance and communication.