The Contributions of Urban Infrastructure to Residential Real Estate Investment Value in Awka, Anambra State (Published)
The study analyzed the contributions of urban infrastructure to residential real estate investment value in Awka. The problem was deficit of information on the impact of urban infrastructure to residential property investment value which affects the planner, investor or real estate developer in taking decisions. The study area Awka was divided into four (4) residential zones namely the core, transitional zone, peripheral zone and public housing estates. Six (6) infrastructures were identified as peculiar to residential properties in Awka. They include: electricity, water, drainage channel, refuse disposal facility, access road and security facility. Tenants of residential properties and estate surveyors practicing in Awka made up the population of the study. Sampling technique adopted was stratified random sampling while the instrument for data collection was questionnaire. A total number of two hundred and fifty-six (256) questionnaires were used for the analysis. The study employed multiple regression model to determine the influence of infrastructure on rental values of residential properties in Awka while correlation co-efficient was used to determine the relationship between available infrastructures and rental values. It was found that annual rent increases when there is an increase in electricity supply, water supply and improvement on access roads. The study recommended that government should create an enabling environment for private sector participation in the development, management and improvement of infrastructure through policy formulation and establishment of a coordinating agency that will be involved in planning, development and maintenance of urban infrastructure in order to reduce existing deficiencies that affect residential real estate investment
Keywords: Residential, Urban infrastructure, Value, real estate investment