ABSTRACT
Introducing motor car park into a region often creates expectations about the impact of the motor car park project on property values. Information on the impact of motor car pack on property values is often incomplete and limited due to anecdotal evidence, leaving regions planning for motor car park investments without a firm basis to judge the future impact of such an investment. In addition, this lack of complete information limits the extent to which transit agencies can develop strategies to maximize positive property value impacts. This study examines impact of motor car park location on rental value in Ijebu-North Local government Area. It specifically compare the level of accessibility of motor car park within the study area; determine the relationship motor car park location and rental values; and examine whether motor car location influence the rental values of residential buildings in the study area.
The study adopted survey research design. Both primary and secondary data were used for the research study. The primary data used was obtained through the use of questionnaire survey which was administered to residents residing around motor car park in Ijebu-north local government area of Ogun state. Also, secondary data were gotten from online articles, online journals and published works which focus on motor park location impact. A total of 100 questionnaire were distributed within a 1km radius of motor car park location with 50 respondents in Ago-Iwoye motor car park and 50 respondents from Ijebu-igbo motor car park. Data generated from the study were analysed using descriptive and inferential statistics.
Findings of the study showed that there is statically significant relationship between motor car park accessibility and patronage of motor car parks. Also there was significant relationship between motor car park location and rental values in the study area. Results revealed that motor car park location influence the rental value of residential building in the study area.
It was concluded that there was significant impact of motor car park location on rental values in Ijebu-north local government area. Among other recommendation is that adequate security should be provided in motor car park environment in order to reduce or eradicate insecurity, which will in turn attract more businessmen and women to invest in the area.
TABLE OF CONTENTS
CHAPTER ONE: Introduction
1.1 Background to the study
1.2 Statement of the Problem
1.3 Aim and Objectives
1.4 Research Questions
1.5 Hypotheses
1.6 Scope of the Study
1.7 Significance of the Study
1.8 Study Area
1.8.1 Geographical Location
1.8.2 Climate and Vegetation
1.8.3 Socio-Economic Activities
CHAPTER TWO: Conceptual and Theoretical Framework
2.1 Conceptual Clarification
2.1.1 Meaning of Motor Car Park
2.1.2 Physical Structure of Motor Parks in Nigeria
2.1.3 Concept of Property and Property Values
2.1.4 Transportation and Property Value
2.2 Theoretical Framework
2.2.1 Thunen’s Model of Land
2.2.2 Classical Model of Internal Structure of Cities
2.3 Empirical Review
CHAPTER THREE: Research Methodology
3.1 Research Design
3.2 Source of Data
3.2.1 Primary Data
3.2.2 Secondary Data
3.3 Sampling Method
3.4 Method of Data Analysis
CHAPTER FOUR: Data Presentation and Analysis
4.0 Introduction
4.1 Socio-economic Characterization of Respondents
4.2 Characteristics of Respondents Building
4.3 Environmental Characteristics and Rent
4.4 Factors Affecting Choice of Residence
4.5 Analysis of Research Questions/Test of Hypothesis
4.6 Relationship between Findings Conceptual Framework
CHAPTER FIVE: Summary, Conclusion and Recommendations
5.0 Summary of Findings
5.2 Conclusion
5.3 Recommendations
References
Appendix: Questionnaire
