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The emergence of dynamic residential property values owing to violent ethno-religious conflicts in Jos

Aliyu, Aliyu Ahmad and Kasim, Rozilah and Martin, David and Garkuwa, Abdu Ibrahim (2016) The emergence of dynamic residential property values owing to violent ethno-religious conflicts in Jos. Research Journal of Finance and Accounting, 7 (8). pp. 106-121. ISSN 22222847

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Abstract

The previous models of land and landed property value indicators are of two types, viz: tangible and intangible location attributes. In the case of Jos, the intangible attribute of location is the prime mover of residential property value indicators in areas that are prone to violence while tangible location attributes are the main factors that determining real estate value in violent free areas as indicated in the findings of the study. Socio-economic background (level of education, income, occupation, gender, religion, household size, indiginity and the likes) of Jos residents played a vital role in triggering the crisis which eventually influence the values of residential properties in the study area. A combination of self-administered questionnaires and semi-structured interview were deemed most suitable as data collection tools for this research due to the advantages obtained from both approaches.A total of 1000 questionnaires were administered to the respondents. Out of 1000 questionnaires administered to the respondents, 876 valid responses were used to analyse the information pertaining to the effect of intangible location attributes on residential property value in Jos city. Stratified random sampling was also adopted in order to generate data from the professional estate surveyors and valuers. Out of 30 firms, 10 were chosen and 120 questionnaires were administered to them, that is, 12 for each firm. However, out of 120 questionnaires administered to the professional firms, only 110 were retrieved back. . Most of the data presented using simple percentage distribution tables were also complimented with the aid of complete theoretical analysis for some data that are not quantifiable in nature. The research found that highest demand for residential property was found along the inner city of Jos by the Muslims because this is the area where Muslims are in the majority which within the central part of the study area. It was also discovered that the outskirt of the city witness high influx of Christians who have sold their houses in the predominately Muslims areas. There is a proliferation of squatter settlements, suburbs, squalid areas, ghettos and slum areas in the outskirts of Jos. The findings of this research is, therefore, not in conformity with the findings of some researchers who challenges all the existing models of residential property value by looking at safety as another indicator of land and landed property value. This research however negates this assertion because safety or security of life and property is not a different phenomenon inters of determining the values of residential property but rather is among the intangible location attributes as indicators of residential property value. There is a need on the part of the investors and property developers before embarking into building construction to take into consideration intangible or invisible factors of location in order to avoid wasting of capital in the study area. When carrying out feasibility and viability appraisal, attention must be given to the issue of Intangible location attributes

Item Type: Article
Uncontrolled Keywords: Conflict; ethno-religious violence; residential property value; residential mobility; residential segregation
Subjects: T Technology > TH Building construction > TH9701-9745 Protection from burglary, sabotage, etc. Security in buildings
Divisions: Faculty of Technology Management and Business > Department of Real Estate Management
Depositing User: Mr. Mohammad Shaifulrip Ithnin
Date Deposited: 30 Sep 2019 03:24
Last Modified: 30 Sep 2019 03:24
URI: http://eprints.uthm.edu.my/id/eprint/11712
Statistic Details: View Download Statistic

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