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Vol.4 , No. 2, Publication Date: Feb. 1, 2018, Page: 45-53
 out of which 92 (59.70%) were returned and both random and stratified sampling method were adopted. However, findings reveals that the level of accessibility and traffic situation in the study areas were fairly accessible before road expansion and was now very accessible and free from traffic challenges. The rental market situation of commercial properties was not active initially but latter active after the expansion, rental markets and demand for properties was there after very high. The road expansion had numerous effect on rental values of properties, such as increase in rental values, high demand, increase in capital values, while current rental values was steadily increasing. This made the road expansion projects to be relevant and significant to commercials properties and properties owner. It was hereby recommend that Estate Surveyors should be involved from the inception of road expansion projects in other to determine the cost and benefits of the projects and worth of compensation, urban renewal along the study area for old structure to give way for modern sustainable architectural design, property investors to invest on real estate since demand and rental values is now high to reduces scarcity of properties amongst others.&picture=http://www.aascit.org/aascit/decorators/img/journal/897.jpg)
| [1] | Oladejo Samuel Olugbemiga, Department of Estate Management, Federal Polytechnic, Ado-Ekiti, Nigeria. |
| [2] | Adu Christianah Adeola, Department of Estate Management, Joseph Ayo Babalola University, Ikeji Arakeji, Nigeria. |
| [3] | Adedotun Adebola Abosede, Department of Estate Management, Joseph Ayo Babalola University, Ikeji Arakeji, Nigeria. |
This study aimed at assessing road dualization and its effects on commercial properties rental value along Obafemi Awolowo Way in Abeokuta, Nigeria. The study investigated the level of accessibility and traffic situation in the study areas before and after the road expansion, assessing the relevance of the road expansion, examined the trends of rental markets of commercial property, surveyed the current rental values of property types and contributing factors to the derived rental values. In carrying out the research work a total of 134 questionnaires were distributed in two sets (i.e. Estate firms 14 and property owner 120) out of which 92 (59.70%) were returned and both random and stratified sampling method were adopted. However, findings reveals that the level of accessibility and traffic situation in the study areas were fairly accessible before road expansion and was now very accessible and free from traffic challenges. The rental market situation of commercial properties was not active initially but latter active after the expansion, rental markets and demand for properties was there after very high. The road expansion had numerous effect on rental values of properties, such as increase in rental values, high demand, increase in capital values, while current rental values was steadily increasing. This made the road expansion projects to be relevant and significant to commercials properties and properties owner. It was hereby recommend that Estate Surveyors should be involved from the inception of road expansion projects in other to determine the cost and benefits of the projects and worth of compensation, urban renewal along the study area for old structure to give way for modern sustainable architectural design, property investors to invest on real estate since demand and rental values is now high to reduces scarcity of properties amongst others.
Keywords
Commercial Properties, Dualization, Rental Value, Road Transportation, Property
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