Issues

Journal & Issues

Volume 10 (2022): Issue 1 (January 2022)

Volume 9 (2021): Issue 1 (January 2021)

Volume 8 (2020): Issue 1 (January 2020)

Volume 7 (2019): Issue 1 (January 2019)

Volume 6 (2018): Issue 1 (January 2018)

Volume 5 (2017): Issue 1 (November 2017)

Volume 4 (2016): Issue 1 (November 2016)

Volume 3 (2015): Issue 1 (December 2015)

Journal Details
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English

Search

Volume 10 (2022): Issue 1 (January 2022)

Journal Details
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English

Search

10 Articles
Open Access

Construction and Real Estate Sustainability Management: Costa Rican Prospects 2016–2021

Published Online: 27 Feb 2022
Page range: 1 - 15

Abstract

Abstract

Population growth has increased climate impact and it is one of the reasons for the conception of sustainable management. Sustainability management has become an integral part of the business environment and decision-making processes. It is important to mention that construction sectors represent one of the main polluters. This article introduces the path for Costa Rica in the last five years in terms of development and the increasing number of companies with green building certification. Interviewing the professionals with vast experience in the sustainable sector is the tool used to compile the current situation of Costa Rica and the journey through this path as a pioneer in Latin America and the Caribbean. The study explores the situation lived by the companies in Costa Rica to set their projects according to the regulations established by the authorities in the sustainable management field and examines the position of the governmental authorities as a barrier or a facilitator. Therefore, this article aims to contribute to the discussion about the status of sustainability management in Costa Rica in the last five years as the scope of the investigation.

Keywords

  • Certification
  • climate change
  • construction
  • Green building
  • sustainability management
Open Access

Construction Safety Management Report for High-Rise Buildings

Published Online: 16 Mar 2022
Page range: 16 - 25

Abstract

Abstract

Due to the current rapid economic development, all walks of life have also achieved considerable development. Among them, the construction industry is particularly prominent. In the process of modern city construction, high-rise and super high-rise buildings are more and more common. As we can see, there are a lot of accidents happening at the construction site. In order to find the CSFs for safety management, the author uses SPSS software to collect the data from survey and then performs an analysis. This way, the key factors have been found to affect the safety management. In the meantime, the case study is used to verify the key factors and get the correlation between different CSFs. In order to reduce the possibilities of safety problems at construction sites and propose some suggestions to existing problems, the author combines the current situation and CSFs. The aim of the article is to help companies manage construction sites more efficiently, thus promoting the healthy development of the construction industry in Poland.

Keywords

  • Construction safety management
  • CSFs
  • lean construction
  • sustainable development
Open Access

Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria

Published Online: 16 Mar 2022
Page range: 26 - 40

Abstract

Abstract

Land speculation is a form of investment for future gain in form of appreciation in land value. Previous studies on land speculation have failed to examine the operations of land speculators but rather focused on negative impact of land speculation. This study fills this gap by evaluating the operation of land speculators. A hypothesis is tested in addition to four specific objectives. The 21 land speculators with physical presence in five local governments neighbouring Lagos State, Nigeria, have been surveyed using questionnaires. Data gathered have been analysed using frequency distribution table, relative importance index (RII), ranking and linear regression. Findings of the study reveal that family is the major source of land acquisition. Also, land speculation activity is not regulated in the study area. The study reveals that the majority of the speculated land is not covered by a state recognised title. The most prevalent activity of the land speculators in the study area is apportioning land into plot with RII of 0.962. Also, land speculation is mostly financed using equity with RII of 0.895. Profiteering from business is the highest ranked motivation with RII of 0.914. The highest ranked perceived consequence from land speculator’s perspective is an increase in land price with RII of 0.914. The study hypothesis H0 stating that there is no significant impact of land speculation on land accessibility has been rejected and an alternate hypothesis has been accepted as it has been established that land speculation has a significant impact on land accessibility which means that land speculation is a major hindrance to land accessibility. Assessment of land speculator’s operation reveals their awareness of the negative consequences of their actions. However, they are motivated by anticipated proceeds from the venture.

Keywords

  • Land speculation
  • land speculators
  • land accessibility
  • Nigeria
  • operation
Open Access

Failure Case of Earned Value Method (EVM): The “Absurd” of the Use of Management & Contingency Reserves Budgeting

Published Online: 05 Apr 2022
Page range: 41 - 75

Abstract

Abstract

The object of the research focuses on the use and application of the management reserves and contingencies of the hierarchical structure of the Earned Value Management System framework. The study explores logical failures of the method, which do not seem to have been recorded in the international literature. These failures do not seem to have been perceived, although they relate to variables that they identify and must ensure the accuracy of the results of the method, in the way this method is executed in application of EVMS standard/EIA 748. The derived failure of these variables leads to incorrect qualitative and quantitative calculation of Earned Value Method (EVM) calculations. Spoiled results in terms of the accuracy of their algebraic prices lead to erroneous and possibly more costly decisions by the actors in the production process; especially when it comes to borderline situations. Because of these failures, both the on-schedule handover time and the size of the expected rate of profit (IRR) on the part of the entrepreneur do not seem to be accurately predicted or measured at the end of the production process/handover. The cause is structural. It derives from the logic and the correlation of the individual components of Budget Element hierarchy. The study focuses on the logical contradictions and conceptual failures of the method. The author aims to highlight these specific failures with the purpose of achieving more effectively the uncertainty management and determining more accurately the risk algebraic value. Henceforth, the user is provided with an improved ability to manage the resources of the construction. This is ensured by the scientifically more accurately documented measurement of the production time and the construction cost of the technical project.

Keywords

  • Earned Value Management method
  • contingencies
  • management reserve
  • Performance Management Baseline
Open Access

Investigating the Benefits and Barriers of Quality Assurance Management for Adequate Housing Delivery in Nigeria: An Empirical Overview

Published Online: 18 Apr 2022
Page range: 76 - 92

Abstract

Abstract

Purpose: The process of housing delivery all over the world is confronted by multiple barriers resulting in houses that are short of clients’ expectations in terms of quality and overall standards. The inability of the house builders (contractors) to deliver quality housing normally occurs due to non-conformance to quality assurance principles and non-adherence to the key quality indicators. An assessment of recent developments and actions in the building industry that might help mitigate the identified barriers has been made in this study. Hence, skilful application of quality assurance principles to overcome quality barriers in housing delivery is essential. Methodology: The study has employed quantitative methods of data collection. Closed-ended questionnaires have been prepared and administered to building contractors in Akure, Nigeria. The collected quantitative data have been analysed with the aid of SPSS software, version 27. The results have been accordingly reported to ascertain the level of commitment made by building contractors on ensuring quality in housing delivery in Akure. Findings: Findings have revealed that building contractors are well conversant and knowledgeable about the probable benefits of implementing quality assurance in the housing delivery process. There are, however, obvious challenges and serious barriers that are militating against effective implementation of quality assurance measures in the housing delivery process such as engaging unskilled labour force. Recommendation: The study recommends that a pre-assessment of the workforce be made to establish their level of knowledge and competencies on quality assurance management principles. Originality and value: Creation of “quality assurance consciousness” for the housing industry will result in quality housing delivery to the satisfaction of all end users and the general public.

Keywords

  • Barriers
  • benefits
  • housing
  • housing delivery
  • quality assurance management
Open Access

Effect of Distance to Train Station and Mobile Coverage on Land Value: A Case of Tax Valuation in Oreamuno, Costa Rica

Published Online: 06 May 2022
Page range: 93 - 105

Abstract

Abstract

In Costa Rica, a land tax valuation model provided by the Technical Standardization Body (ONT) of the Ministry of Finance is used. This model considers homogeneous areas that include properties with similar characteristics and review factors that have not been recently updated. The objective of this article is to determine the effect of the distance to the train station and mobile coverage on the value of land in Oreamuno, Costa Rica, as a proposal to be included in the mass valuation model of the ONT. A multiple regression econometric model was used to establish the functional relationship between the value of the property and its characteristics, through the Ordinary Least Squares (OLS) method, using 10 variables applied to 200 references initially. The results allow demonstrating that other variables such as “Distance to the train station” and “Mobile coverage” are representative for determining the value of properties, in addition to those commonly used by the ONT model. The research allows concluding that the land valuation models should be updated periodically and should include variables related to improvements in technology and access roads, since these increase the market value of properties and improve the social development of localities in study.

Keywords

  • Appraisal
  • land valuation
  • multiple regression
  • tax value

JEL Classification

  • C50
  • Q15
  • R14
Open Access

Development of the Construction Industry and Its Interconnection with the Development of National Economy of Sri Lanka

Published Online: 16 May 2022
Page range: 106 - 112

Abstract

Abstract

The construction industry forms an important part of any economy, and development of the construction industry could be of high significance for economic development. The construction industry includes the production of construction objects, consumption of resources, investment that contribute to the creation of employment places and also to the economic development of Sri Lanka. The aim of the research is to analyse the development trends of the construction industry and its interconnection with economic development in Sri Lanka. Particular focus of the research is placed on interconnection between the construction industry and economic development. Historical analysis, logical access and other methods have been used in the research. The analysis includes theoretical and practical aspects: actual tendencies and historical overview.

Keywords

  • Construction
  • economic development
  • industry
  • national economy
  • real estate market
  • Sri Lanka
Open Access

System Dynamic Theoretical Framework for Construction Management: A Case of Baltic States

Published Online: 06 Jun 2022
Page range: 113 - 128

Abstract

Abstract

As a result of the rapid development of the construction industry, in recent years, research has increasingly used system dynamics (SD) modelling to determine the positive and negative causal feedback in various management processes. Given SD diverse approach to the management of construction companies and projects, it would be necessary to develop a framework for a system dynamics model (SDM) incorporating the main processes of the Baltic States by identifying and providing a systematic understanding of their distribution. Using literature analysis, this study provides the results of 79 selected scientific literature sources from 1991 to 2020. The obtained information is structured according to the annual volume of publications, country of affiliation, the most successful authors and the most popular scientific journals on the topic of the SD. With the assistance of bibliometric analysis and co-occurrence of keywords, system dynamics management processes in construction companies were structured, choosing the following separate elements: (1) project planning, (2) project management, (3) risk management, (4) project performance, (5) project productivity, (6) sustainability. Using a systematic approach, according to the framework of the model, the characteristics of each management process were classified and identified, dividing them into subgroups. The results of the analysis show that the overview of some SD components or processes is mostly provided, which emphasises its aspects and usability in company management, thus indicating the need to identify the framework of the process module. The introduction of the SD process framework in the company would gradually create a competitive advantage in market conditions.

Keywords

  • Company management processes
  • system dynamic
  • system dynamic models
  • system dynamic model framework
Open Access

Impact of Work-Related Musculoskeletal Disorders Among Construction Workers in Ghana

Published Online: 02 Aug 2022
Page range: 129 - 139

Abstract

Abstract

The construction industry is known for its task-related risks and hazards contributing to occupational stress and musculoskeletal disorders (MSDs). The study sought to identify the impact of MSDs among concrete mixer operators and workers in the construction industry in the Central Region of Ghana. The population for the study was made up of 28 concrete mixer operators and 187 workers. Out of the 215 questionnaires administered, 206 questionnaires were returned which represented 95.8 % of the response rate. Descriptive statistics and Relative Importance Index (RII) were used for the data analysis. Findings show that most of the workers were young males and worked for a longer period a day. Force movement, repetition, awkward bending and fixed body postures were the major factors leading to the development of MSDs and contributed to frequent absenteeism and poor performance of workers. Further findings show that back pain, waist pain and shoulder pain were the major self-reported MSD complaints. Risk assessment should be conducted on all site hazards and ergonomic tools/equipment should be introduced to reduce the impact of MSDs on workers.

Keywords

  • Ergonomic tools/equipment
  • Ghana
  • MSDs health issues
  • MSDs risk factors
  • poor performance
  • risk assessment
Open Access

Commercial Real Estate Rental Variation in Ilorin, Nigeria

Published Online: 12 Sep 2022
Page range: 140 - 155

Abstract

Abstract

The goal of any real estate investor is to maximize return. This can be achieved through the generation of rental income. Thus, it is pertinent that the nature and characteristics of rental value are understood by investors to enhance real estate market penetration. This study examined commercial real estate rental variation in Ilorin, Nigeria, with specific focus on commercial complexes. For data collection, the study area was delineated into three commercial zones. Primary data for the study were collected from occupiers of commercial complexes and property valuers operating within these areas through structured questionnaire, based on purposive sampling technique. The study utilised an analysis of variance (ANOVA) technique to analyse the variation in rental values of commercial complexes in the study area. Results of data analysis revealed a statistically significant variation in rental values of commercial complexes in the study area (F ꞊ 16.70809, p ≤ 0.05) and an increasing trend of the rental values over the years under study as indicated by the rental index. This variation is perceived to be caused by the safety and quality of location, building visibility and lease term (RII ꞊ 0.97, 0.93 and 0.88, respectively). The study recommends that real estate investors should consider these factors when investing in commercial complexes across the commercial zones in Ilorin.

Keywords

  • Commercial real estate
  • Ilorin
  • Nigeria
  • rent
  • rental variation
10 Articles
Open Access

Construction and Real Estate Sustainability Management: Costa Rican Prospects 2016–2021

Published Online: 27 Feb 2022
Page range: 1 - 15

Abstract

Abstract

Population growth has increased climate impact and it is one of the reasons for the conception of sustainable management. Sustainability management has become an integral part of the business environment and decision-making processes. It is important to mention that construction sectors represent one of the main polluters. This article introduces the path for Costa Rica in the last five years in terms of development and the increasing number of companies with green building certification. Interviewing the professionals with vast experience in the sustainable sector is the tool used to compile the current situation of Costa Rica and the journey through this path as a pioneer in Latin America and the Caribbean. The study explores the situation lived by the companies in Costa Rica to set their projects according to the regulations established by the authorities in the sustainable management field and examines the position of the governmental authorities as a barrier or a facilitator. Therefore, this article aims to contribute to the discussion about the status of sustainability management in Costa Rica in the last five years as the scope of the investigation.

Keywords

  • Certification
  • climate change
  • construction
  • Green building
  • sustainability management
Open Access

Construction Safety Management Report for High-Rise Buildings

Published Online: 16 Mar 2022
Page range: 16 - 25

Abstract

Abstract

Due to the current rapid economic development, all walks of life have also achieved considerable development. Among them, the construction industry is particularly prominent. In the process of modern city construction, high-rise and super high-rise buildings are more and more common. As we can see, there are a lot of accidents happening at the construction site. In order to find the CSFs for safety management, the author uses SPSS software to collect the data from survey and then performs an analysis. This way, the key factors have been found to affect the safety management. In the meantime, the case study is used to verify the key factors and get the correlation between different CSFs. In order to reduce the possibilities of safety problems at construction sites and propose some suggestions to existing problems, the author combines the current situation and CSFs. The aim of the article is to help companies manage construction sites more efficiently, thus promoting the healthy development of the construction industry in Poland.

Keywords

  • Construction safety management
  • CSFs
  • lean construction
  • sustainable development
Open Access

Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria

Published Online: 16 Mar 2022
Page range: 26 - 40

Abstract

Abstract

Land speculation is a form of investment for future gain in form of appreciation in land value. Previous studies on land speculation have failed to examine the operations of land speculators but rather focused on negative impact of land speculation. This study fills this gap by evaluating the operation of land speculators. A hypothesis is tested in addition to four specific objectives. The 21 land speculators with physical presence in five local governments neighbouring Lagos State, Nigeria, have been surveyed using questionnaires. Data gathered have been analysed using frequency distribution table, relative importance index (RII), ranking and linear regression. Findings of the study reveal that family is the major source of land acquisition. Also, land speculation activity is not regulated in the study area. The study reveals that the majority of the speculated land is not covered by a state recognised title. The most prevalent activity of the land speculators in the study area is apportioning land into plot with RII of 0.962. Also, land speculation is mostly financed using equity with RII of 0.895. Profiteering from business is the highest ranked motivation with RII of 0.914. The highest ranked perceived consequence from land speculator’s perspective is an increase in land price with RII of 0.914. The study hypothesis H0 stating that there is no significant impact of land speculation on land accessibility has been rejected and an alternate hypothesis has been accepted as it has been established that land speculation has a significant impact on land accessibility which means that land speculation is a major hindrance to land accessibility. Assessment of land speculator’s operation reveals their awareness of the negative consequences of their actions. However, they are motivated by anticipated proceeds from the venture.

Keywords

  • Land speculation
  • land speculators
  • land accessibility
  • Nigeria
  • operation
Open Access

Failure Case of Earned Value Method (EVM): The “Absurd” of the Use of Management & Contingency Reserves Budgeting

Published Online: 05 Apr 2022
Page range: 41 - 75

Abstract

Abstract

The object of the research focuses on the use and application of the management reserves and contingencies of the hierarchical structure of the Earned Value Management System framework. The study explores logical failures of the method, which do not seem to have been recorded in the international literature. These failures do not seem to have been perceived, although they relate to variables that they identify and must ensure the accuracy of the results of the method, in the way this method is executed in application of EVMS standard/EIA 748. The derived failure of these variables leads to incorrect qualitative and quantitative calculation of Earned Value Method (EVM) calculations. Spoiled results in terms of the accuracy of their algebraic prices lead to erroneous and possibly more costly decisions by the actors in the production process; especially when it comes to borderline situations. Because of these failures, both the on-schedule handover time and the size of the expected rate of profit (IRR) on the part of the entrepreneur do not seem to be accurately predicted or measured at the end of the production process/handover. The cause is structural. It derives from the logic and the correlation of the individual components of Budget Element hierarchy. The study focuses on the logical contradictions and conceptual failures of the method. The author aims to highlight these specific failures with the purpose of achieving more effectively the uncertainty management and determining more accurately the risk algebraic value. Henceforth, the user is provided with an improved ability to manage the resources of the construction. This is ensured by the scientifically more accurately documented measurement of the production time and the construction cost of the technical project.

Keywords

  • Earned Value Management method
  • contingencies
  • management reserve
  • Performance Management Baseline
Open Access

Investigating the Benefits and Barriers of Quality Assurance Management for Adequate Housing Delivery in Nigeria: An Empirical Overview

Published Online: 18 Apr 2022
Page range: 76 - 92

Abstract

Abstract

Purpose: The process of housing delivery all over the world is confronted by multiple barriers resulting in houses that are short of clients’ expectations in terms of quality and overall standards. The inability of the house builders (contractors) to deliver quality housing normally occurs due to non-conformance to quality assurance principles and non-adherence to the key quality indicators. An assessment of recent developments and actions in the building industry that might help mitigate the identified barriers has been made in this study. Hence, skilful application of quality assurance principles to overcome quality barriers in housing delivery is essential. Methodology: The study has employed quantitative methods of data collection. Closed-ended questionnaires have been prepared and administered to building contractors in Akure, Nigeria. The collected quantitative data have been analysed with the aid of SPSS software, version 27. The results have been accordingly reported to ascertain the level of commitment made by building contractors on ensuring quality in housing delivery in Akure. Findings: Findings have revealed that building contractors are well conversant and knowledgeable about the probable benefits of implementing quality assurance in the housing delivery process. There are, however, obvious challenges and serious barriers that are militating against effective implementation of quality assurance measures in the housing delivery process such as engaging unskilled labour force. Recommendation: The study recommends that a pre-assessment of the workforce be made to establish their level of knowledge and competencies on quality assurance management principles. Originality and value: Creation of “quality assurance consciousness” for the housing industry will result in quality housing delivery to the satisfaction of all end users and the general public.

Keywords

  • Barriers
  • benefits
  • housing
  • housing delivery
  • quality assurance management
Open Access

Effect of Distance to Train Station and Mobile Coverage on Land Value: A Case of Tax Valuation in Oreamuno, Costa Rica

Published Online: 06 May 2022
Page range: 93 - 105

Abstract

Abstract

In Costa Rica, a land tax valuation model provided by the Technical Standardization Body (ONT) of the Ministry of Finance is used. This model considers homogeneous areas that include properties with similar characteristics and review factors that have not been recently updated. The objective of this article is to determine the effect of the distance to the train station and mobile coverage on the value of land in Oreamuno, Costa Rica, as a proposal to be included in the mass valuation model of the ONT. A multiple regression econometric model was used to establish the functional relationship between the value of the property and its characteristics, through the Ordinary Least Squares (OLS) method, using 10 variables applied to 200 references initially. The results allow demonstrating that other variables such as “Distance to the train station” and “Mobile coverage” are representative for determining the value of properties, in addition to those commonly used by the ONT model. The research allows concluding that the land valuation models should be updated periodically and should include variables related to improvements in technology and access roads, since these increase the market value of properties and improve the social development of localities in study.

Keywords

  • Appraisal
  • land valuation
  • multiple regression
  • tax value

JEL Classification

  • C50
  • Q15
  • R14
Open Access

Development of the Construction Industry and Its Interconnection with the Development of National Economy of Sri Lanka

Published Online: 16 May 2022
Page range: 106 - 112

Abstract

Abstract

The construction industry forms an important part of any economy, and development of the construction industry could be of high significance for economic development. The construction industry includes the production of construction objects, consumption of resources, investment that contribute to the creation of employment places and also to the economic development of Sri Lanka. The aim of the research is to analyse the development trends of the construction industry and its interconnection with economic development in Sri Lanka. Particular focus of the research is placed on interconnection between the construction industry and economic development. Historical analysis, logical access and other methods have been used in the research. The analysis includes theoretical and practical aspects: actual tendencies and historical overview.

Keywords

  • Construction
  • economic development
  • industry
  • national economy
  • real estate market
  • Sri Lanka
Open Access

System Dynamic Theoretical Framework for Construction Management: A Case of Baltic States

Published Online: 06 Jun 2022
Page range: 113 - 128

Abstract

Abstract

As a result of the rapid development of the construction industry, in recent years, research has increasingly used system dynamics (SD) modelling to determine the positive and negative causal feedback in various management processes. Given SD diverse approach to the management of construction companies and projects, it would be necessary to develop a framework for a system dynamics model (SDM) incorporating the main processes of the Baltic States by identifying and providing a systematic understanding of their distribution. Using literature analysis, this study provides the results of 79 selected scientific literature sources from 1991 to 2020. The obtained information is structured according to the annual volume of publications, country of affiliation, the most successful authors and the most popular scientific journals on the topic of the SD. With the assistance of bibliometric analysis and co-occurrence of keywords, system dynamics management processes in construction companies were structured, choosing the following separate elements: (1) project planning, (2) project management, (3) risk management, (4) project performance, (5) project productivity, (6) sustainability. Using a systematic approach, according to the framework of the model, the characteristics of each management process were classified and identified, dividing them into subgroups. The results of the analysis show that the overview of some SD components or processes is mostly provided, which emphasises its aspects and usability in company management, thus indicating the need to identify the framework of the process module. The introduction of the SD process framework in the company would gradually create a competitive advantage in market conditions.

Keywords

  • Company management processes
  • system dynamic
  • system dynamic models
  • system dynamic model framework
Open Access

Impact of Work-Related Musculoskeletal Disorders Among Construction Workers in Ghana

Published Online: 02 Aug 2022
Page range: 129 - 139

Abstract

Abstract

The construction industry is known for its task-related risks and hazards contributing to occupational stress and musculoskeletal disorders (MSDs). The study sought to identify the impact of MSDs among concrete mixer operators and workers in the construction industry in the Central Region of Ghana. The population for the study was made up of 28 concrete mixer operators and 187 workers. Out of the 215 questionnaires administered, 206 questionnaires were returned which represented 95.8 % of the response rate. Descriptive statistics and Relative Importance Index (RII) were used for the data analysis. Findings show that most of the workers were young males and worked for a longer period a day. Force movement, repetition, awkward bending and fixed body postures were the major factors leading to the development of MSDs and contributed to frequent absenteeism and poor performance of workers. Further findings show that back pain, waist pain and shoulder pain were the major self-reported MSD complaints. Risk assessment should be conducted on all site hazards and ergonomic tools/equipment should be introduced to reduce the impact of MSDs on workers.

Keywords

  • Ergonomic tools/equipment
  • Ghana
  • MSDs health issues
  • MSDs risk factors
  • poor performance
  • risk assessment
Open Access

Commercial Real Estate Rental Variation in Ilorin, Nigeria

Published Online: 12 Sep 2022
Page range: 140 - 155

Abstract

Abstract

The goal of any real estate investor is to maximize return. This can be achieved through the generation of rental income. Thus, it is pertinent that the nature and characteristics of rental value are understood by investors to enhance real estate market penetration. This study examined commercial real estate rental variation in Ilorin, Nigeria, with specific focus on commercial complexes. For data collection, the study area was delineated into three commercial zones. Primary data for the study were collected from occupiers of commercial complexes and property valuers operating within these areas through structured questionnaire, based on purposive sampling technique. The study utilised an analysis of variance (ANOVA) technique to analyse the variation in rental values of commercial complexes in the study area. Results of data analysis revealed a statistically significant variation in rental values of commercial complexes in the study area (F ꞊ 16.70809, p ≤ 0.05) and an increasing trend of the rental values over the years under study as indicated by the rental index. This variation is perceived to be caused by the safety and quality of location, building visibility and lease term (RII ꞊ 0.97, 0.93 and 0.88, respectively). The study recommends that real estate investors should consider these factors when investing in commercial complexes across the commercial zones in Ilorin.

Keywords

  • Commercial real estate
  • Ilorin
  • Nigeria
  • rent
  • rental variation

Plan your remote conference with Sciendo