Analysis of Capital Values of Duplex Residential Properties in Benin Property Market Segments (Published)
Duplexes are types of residential properties built and designed on two floors to accommodate a single family unit and these have become a trending form of residential accommodation in recent times. An investor would be interested in observing the trend of capital value of such investment to be able to appreciate his venture. The aim of this study is to analyze the capital value of duplex residential properties in Benin property market, having the objectives of determining the trend and significance of variation of capital values in the identified market segments of Benin City. The survey research design was used as the research methodology. Estate surveying and valuation firms active in property management in Benin provided responses through questionnaires, interviews and observed documented records. Tables, graphs, trend analysis, and one-way ANOVA were used to examine the data collected. The study revealed that the trend of capital values of Duplexes has been steadily increasing over time, and indicated significant variation in the respective property market segments except in Siluko. As a result, it was concluded that the trends and variations could be attributed to the level of accessibility of the property, cost of building materials, trends in the property market, cost of land, and other factors, and that prospective investors should consider these factors before investing in Duplex residential property in Benin City in order to hedge over loss or depreciation of capital value of investment.