Posted: 2022 | Pages: 68 | Format: MS Word | Chapters: 1-5 | Others: Questionnaires & References

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ABSTRACT

This study was carried out to ascertain the extent to which inadequate student housing has impacted rental values. The purpose of this research work is to gain an understanding of the nature and the extent of the effect of inadequate student housing on rental values in Enugu. In the course of investigation, it was discovered that there is inadequate student housing in Enugu. Therefore, the ultimate aim was to identify the causes of inadequate student housing. Among other things identified were poor facility management and maintenance, poor sanitary conditions. An attempt was made to validate this through the application of empirical research. Therefore, observation and questionnaires were used to obtain information from students, landlord and non-student tenants. The questionnaires were analyzed and tested with percentages, charts, frequencies, chi-square (x²) and correlation analysis. The analysis proved that inadequate student housing has an impact on rental values in Enugu. Furthermore, it also proved that students tend to pay higher rent than none-students. The study recommends that, there should be a housing policy to this effect. The research further suggested that private developers should be encouraged by the government to build according to NUC standard and finally, Estate surveyors and valuers should be engaged in the maintenance and management of student hostels.

CHAPTER ONE

• INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Shelter is universally acknowledged as one of the most importantly human needs, with a profound impact on the life style, health, happiness as well as productivity of individuals. Housing is more than a mere shelter. It encompasses all the ancillary services and common facilities that are necessary to human well being. In spite of its importance there is unfortunately a great shortage of dwelling units especially in developing countries of the world, where the population growth and urbanization are proceeding more rapidly, and the gap between needs and efforts to provide such needs is very great.

Paradoxically, past theories of economic development regarded housing as nonproductive durable consumption good with extremely high capital/output ratio. It is however, increasingly recognized that housing is important to development of economic welfare. The need for investment in housing as well as health and education becomes clear when the social cost of not investing in there is considered. Indeed investment in housing represents up to 20 to 30% of fixed capital formation in countries with vigorous housing programmes. It is now well organized as a profitable investment item, yielding a flow of income.

According to Ochuba (1998) “most academic institution in Nigeria today are non residential and their population through time has been increasing” institution with residential facilities cannot cope with the resultant high demand for students’ accommodation. In many cases, the supply is static while the demand is ever increasing the result is segregated rental market and higher rental level especially within the neighborhood of  the institutions.

Housing of students in Nigerian tertiary intuitions can be said to have metamorphosed. From graceful standard in yester-years to very deplorable and debased level these days; particularly in the institutions east of the Niger. In the past, Nigerian students had enjoyed reasonable comfortable housing conditions.    In terms of hostel accommodation, one student was then assigned to one room (single room) accommodation. According to Anidi (1998),”tertiary institutions in the country used to provide adequate hostel accommodation for their students, although it was not obligatory for students to live in hostels. Those students who opted for off campus stayed within some walking distance from the campus, until commuter houses were introduced. This was the beginning of the off-campus syndrome”. Era ended in about 1978/79.

According to Egolum (1998), the period 1980 to 1985 witnessed transitional conditions.