Effect of Accessibility on Commercial Property Rental Values Performance in Oja Oba Market, Ilorin Metropolis
Abstract
The value of a commercial property is mainly determined by its inter-accessibility to other land uses; accessibility is a critical component in determining the costs and rewards of any investment. The study is being conducted to investigate the impact of accessibility on the rental values of retail premises. The purpose of this study was to determine the extent to which accessibility affects the rental value of retail premises. The following goals were established: to assess the rent in various locations inside the market from the primary major route. The stratified random sample approach was employed to acquire the data to evaluate if there is a variance in rent and the link between rental value and distance. Data were examined using descriptive statistics and linear regression using SPSS. The data indicated that rent varies within the market as distance increases. It was found that as distance increases to the market, the rental prices of store premises fall, and there is a strong positive linear relationship between distance and rental value. The report also advised that the government establish market parking space. The government should also give private shop property investors appropriate loans at cheap interest rates to boost investment in this sector.
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Copyright (c) 2021 Rayyan Yusuf, Ibrahim Hussaini Muhammad, AbdulAkeem Olasunkanmi Otunola, Sakariyau Jamiu Kayode
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