Research Article

OIL PIPELINE VANDALISM AND RESIDENTIAL PROPERTY RENTAL VALUE: EMPIRICAL EVIDENCE FROM NIGERIA

Victor Olutope Ige1*, Adedamola Fisayo Audu2
1 Department of Estate Management, Federal University of Technology, Akure, Ondo State, Nigeria
2 Department of Estate Management, Joseph Ayo Babalola University, Nigeria
* Corresponding author: voige@futa.edu.ng
Published: Mar, 2017
DOI: 10.68128/jocrebe.2017.lddp31nx
Pages: 47-54
Views: 24
Downloads: 6

Abstract

Purpose: The incidence of oil pipeline vandalism in Nigeria is on the increase and often a threat to the host communities. Environmental degradation, hazard to human livelihoods and health amongst others are consequential effects of oil pipeline vandalism which oftentimes generate stigma to the surrounding properties and dis-amenity to property values. The purpose of this study is to examine the effect of oil pipeline vandalism on residential rental values. Design/methodology/approach: To achieve this, questionnaires was distributed to 400 tenants drawn from four purposively selected residential estates in the case study areas. Data gathered was analysed using both descriptive (relative importance index) and inferential statistics (linear regression model) to identify factors that motivates tenant’s choice of settling down in the study area and the factors that determines residential property rental value in the area. Findings: The findings show ‘loss incurred to vandalism in monetary terms’ alongside six other explanatory variables as statistically significant to residential rental value in the study area. Originality/value – The outcome of the paper will assist property owners, occupiers, Real Estate Surveyors and Valuers, developers, and other stakeholders in the real estate sector on how oil pipeline vandalism could impact investments and returns. This indicates that the linear regression model offers an explanatory power to understand the essential factors impacting residential property rental value and real estate development.

Keywords

Oil pipeline; rental value; residential property; vandalism; Arepo; Nigeria

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How to Cite

Ige, V. O., & Audu, A. F. (2017). OIL PIPELINE VANDALISM AND RESIDENTIAL PROPERTY RENTAL VALUE: EMPIRICAL EVIDENCE FROM NIGERIA. Journal of Contemporary Research in the Built Environment, 1(1), 47-54. https://doi.org/10.68128/jocrebe.2017.lddp31nx

V. O. Ige, and A. F. Audu, "OIL PIPELINE VANDALISM AND RESIDENTIAL PROPERTY RENTAL VALUE: EMPIRICAL EVIDENCE FROM NIGERIA," Journal of Contemporary Research in the Built Environment, vol. 1, no. 1, pp. 47-54, March 2017. doi: 10.68128/jocrebe.2017.lddp31nx

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