THE EFFECT OF LOCATION ON PROPERTY VALUE

CHAPTER ONE

1. INTRODUCTION AND BACKGROUND
   1. GENERAL INTRODUCTION

A well located product can often survive economically even if development is poorly planned and managed. A project that is not well located may fall even though it has the best planning and management and even design, Cassidy (2005). Today, many investors in real estate have no regret for taking a wise decision in site section while many still regret choice of bad location.

The relative location of a parcel of land is what determines it value. Thus, the relative location made is the combination of the spatial proximity or a plot of land to other parcel of land and linkages between them (Harsh 2000). In the course of studying the effect of location on property value accessibility cannot be isolated.

Accessibility in this word considers the time and convenience of getting to a place. This refers to the nature of the road network i.e. rough, smooth undulating to other use wise. All these inquires have been observed in order to make alteration where necessary and avoid future occurrence, hence considering the work in respect of the effect of location of tertiary institution on property value.

1. STATEMENT OF PROBLEM

This project critically examines or gives an understanding of the effect of location on property value. These projects also gives an understanding on how to choose or to locate a suitable site for a property and adequately to know the present property value so as to have a fruitful business and allows the people in the institution have a befitting and credible knowledge and accommodation 

Some estate surveyor find it difficult to know the value of a property in some selected area. So in these cases, some research topics have been treated by scholars to the effect of location on property value. These dissertation as therefore aimed at bringing to limelight the fact that property value is an important aspect of utilizing a property through which enormous problem of valuation could be tracked if necessary attention is given appropriately.

1. AIM AND OBJECTIVES OF THE STUDY

The aim of this study is to analyse the effect of location of tertiary institution on property value.

Objectives

The objectives of the study are: –

1. To examine the effect of location of tertiary institution on property value
2. To determine the value of development in the study area
3. To assess different types of property within the study area
4. To determine the level of property value before  and after
5. To suggest and recommend possible solution to the effect caused by location on property value
   1. SCOPE OF THE STUDY

This project topic deals with the effect of location on property value but the scope of the study shall be restricted to a tertiary institution which is Al-hikmah University, Ilorin and its surroundings.

1. LIMITATION OF THE STUDY

Though, it is the intention of this research to present a comprehensive study on this subject matter, nevertheless, the following constraints to limit this laudable intension

1. Un-co-operative attitude of the respondent in granting interviews and filling of questionnaires
2. Insufficient textbooks in relation to the work for the purpose of literature review
3. Financial constraint which directly and indirectly affect the information and data used
4. Short time required in producing and completing the dissertation notwithstanding the above short comings, everything’s possible to ensure a comprehensive dissertation was undertaken.