1.0 Introduction
1.1 Background of Study
According to historical accounts (Leadership Newspaper), Asata, Coal camp, New market, Ogui urban including Obiagu areas of the city belongs to Ogui Nike people. But during the colonial era, the white men started developing parts of the land owned by the Ogui Nike people. That explains why Obiagu is presently inhabited by people from almost the five south east states namely; Abia, Anambra, Ebonyi, Imo and even the present day Enugu state.
Also a portion of Obiagu was then inhabited by the Hausa community, who came to the city as either cattle dealers or artisans. But following the events leading to the outbreak of the Nigeria Biafra war in 1967, a good number of Hausa men living in the area left for their different states in the north and never returned to the area, then the community was taken over by Nigerians from other ethnic groups, particularly Igbo, yet it still answer.
According to historical accounts (Leadership Newspaper), Asata, Coal camp, New market, Ogui urban including Obiagu areas of the city belongs to Ogui Nike people. But during the colonial era, the white men started developing parts of the land owned by the Ogui Nike people. That explains why Obiagu is presently inhabited by people from almost the five south east states namely; Abia, Anambra, Ebonyi, Imo and even the present day Enugu state. Also a portion of Obiagu was then inhabited by the Hausa community, who came to the city as either cattle dealers or artisans. But following the events leading to the outbreak of the Nigeria Biafra war in 1967, a good number of Hausa men living in the area left for their different states in the north and never returned to the area, then the community was taken over by Nigerians from other ethnic groups, particularly Igbo, yet it still answer
“Ama Hausa” house of Hausa community of a ghetto. When police or other security agencies are looking for suspected criminals, they usually gear their search light on obiagu, because of the belief that it is a criminal infested area (Ubani, 2012).
Most housing decay and deterioration comes in various forms and their existence is more evident in densely populated parts of the city. Some of the characteristics of slum include inadequate and deficient facilities obsolete buildings, filthy environment, etc. Much concern was been shown about the problems of the slum areas particularly on the level of decay exhibited by such areas and the plight of the low income households which dwell in them, this put lives and health of the residents in danger.
Obiagu experienced a large rapid population growth because of the influx of people from different part of the east as a result of the development from the colonial era, hence houses constructed of hands materials sprang up all over the settlement. Thus, the area is crowded with poor housing structures most disorderly located. The settlement has now grown and developed in an unplanned manner resulting in the deterioration of the values of the property and social status of the estate environment.
Therefore, in Nigeria where the research was carried out, the activities that was conducted is to examine the effects of slum on rental property values in Obiagu.
1.2 Statement of Problems
Investigation revealed that Obiagu is characterized by slum, where the structure are blighted, high level of occupancy mostly low income group, over-crowding, under supply of public amenities, bad roads, this is the basis for this research work, trying to examine the effects of slum on the values of property, located their and also to show or establish that slum development is the major set-back in urban growth/development.
1.3 Aim and Objectives of Study
The aim of the study is to examine the effects of slum on rental property values in Obiagu. In achieving this aim, the following specific objectives were laid out as follows:
- To identify the causes and effects of slum on rental property values in the study area.
- To establish the negative and positive effects of slum on rental property values in the study area.
- To establish whether slum environment makes investment in real estate and property market transactions, a viable venture.
- To then recommend the best and possible strategy towards eradicating the slum of Obiagu area and hence create a suitable environment that will enhance the property value in the areas.
1.4 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- What are the causes and effects of slum on rental property values in Obiagu?
- Are there any negative and positive impacts of slum on rental property values?
- Will investment in real estate and property market transactions in Obiagu be a viable venture?
1.7 Significance of Study
The study tends to identify the nature of slum in the study area, possible causes and effects on rental values of properties in the area in order to aid relevant authorities to tackle the problem and enhance benefits of real estate property market in the area.
There are many causes of slum which includes indiscriminate development of properties, improper disposal of waste etc. The government and its agencies have not paid much attention to it as a result of insufficient information available to them.
This research will increase the interest of government officials on the issue and if the recommendations are adhered to, it will go a long way to eradicate slum in the study area and enhance development and real estate investment.
1.8 Scope of Study
The scope of the research is focused on the Effects of Slum on Rental Property Values. This study is restricted to the development of slum in obiagu. The investigation will consider the environmental, social, economic demographic, transportation, infrastructural and housing amenities conditions relevant to enhance estate settings as well as property values.
1.9 Limitations of the Study
During the course of this study, many things militated against its completion, some of which are:
- Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Establishment Policies: Establishment policies posed a serious limitation as most staffs are not ready to release information needed for this research work. There were lots of information needed from the staffs of this establishment to enhance the study which took them time to release or they did not release at all for security purposes, hence the scope was reduced.
- Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
- Lack of Initial Cooperation from Respondents: A particular limitation of this work came as a result of the respondent refusal to offer their cooperation at the initial time they were contacted. This contributed in making the success of this research study difficult.
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