Browsing by Author "Oshikoya, Taiwo Peter."

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    Tenants' choice of residential properties in Ibadan municipality, Nigeria.
    (Department of Estate Management, Faculty of Environmental Design and Management, Obafemi Awolowo University., 2023) Oshikoya, Taiwo Peter.
    The study examined the socio-economic characteristics of the tenants in Ibadan metropolis, the characteristics of residential properties, identified the tenants’ choice of residential properties and determined the factors influencing tenants’ choices of residential properties in Ibadan municipality. These were with the view to providing relevant information that enhances the investment decisions of real estate investors. Primary data were collected for the study. Question was used to elicit data from household head of the low residential neighborhood (Idi-ishin, Alalubosa) and medium density (Oluyole, Bodija) in Ibadan municipality. These represent a total number of 6,528 housing units and multistage sampling was adopted in selecting 5% of the residential buildings. A total of 326 residential buildings were selected from which a household head was selected each for questionnaire administration. The data collected entails the socio-economic characteristics, characteristics, of the residential property and factors influencing their choice of residential property. The study adopts techniques such as frequency distribution and percentages, cross tabulation, chi sqaure and factor analysis. The result shows that the respondents comprise of active population within the age bracket 30-50 with 50.3% were largely female and income level is between #150,000 to #251,000. Further findings reveal that most of the residential properties in low residential densities had well finished 3-bedroom flat and semidetached apartment, while medium density are mostly 2-bedroom flat and 3-bedroom respectively. The study discovered three principal factors (security, tenants’ occupation and distance to place of choice) that influence tenants’ choice of residential property across the two residential densities which are neighborhoods security, facilities and services with a percentage variance of 23.19%. This is followed by socio-economic characteristics of the respondents with a percentage variance of 13.92 and lastly, distance and proximity to places of choice with a percentage variance of 12.50%. The study concludes that investor should take into consideration the three principal factors in their decision to invest in residential property in the study area.