Analysis of the Impact of Parks and Open Spaces on Residential Property Values( Case Study of GRA, Ikeja)
Chapter One
AIM AND OBJECTIVES OF THE STUDY
The aim of this project is to study the impact of parks and open spaces on residential property values in Independence Layout, GRA Ikeja Lagos state. The idea is to present a report based on indebt research to achieve the following objectives which include:
- To identify the location of parks and open spaces in GRA, Ikeja.
- To ascertain if parks and open spaces have any influence on the rental and capital values of residential buildings in GRA, Ikeja.
- To analyze the merits and demerits of parks and open spaces in tandem with the welfare and satisfaction of the residents.
- To suggest ways of improving open space and parks conservation in the study area.
CHAPTER TWO
LITERATURE REVIEW
DEFINITION OF OPEN SPACE
Defining open space can be a tricky endeavor. The phrase “open space” can mean a variety of different things, depending on the context of the discussion and the parties involved. For some, “open space” may simply mean “not houses,” in which case urban parks, wetlands, farms, golf courses, baseball fields, and variety of other land uses would qualify as open space. Others may define “open space” as even less-developed types of land use, such as woodlands, forests, wildlife refuges, or nature conservancies.
In dealing with these issues, some literatures adopted one of three approaches. The first and most common approach which was to examine the value of a very specific type of open space, such as urban parks (Weicher & Zerbst, 1973), golf courses (Do & Grudnitski, 1995), or urban greenbelts (Correll et al., 1978). Focusing on a specific type of open space, these studies render issues of definition and classification irrelevant. A second approach has been to define open space broadly by aggregating all open space types into one category (Anderson, 2000). The third and perhaps most useful approach has been to examine a broad range of open space areas, classify them by type, and then examine the value of open space based on these classifications (Lutzenhiser & Netusil, 1999; Smith, et al., 2000; Bolitzer & Netusil, 2000). I adopt the latter approach in this study by estimating the amenity value of public parks, golf courses, and cemeteries.
Urban Infrastructure and Property Values
Different scholars have variously stressed the relevance of infrastructure in all spheres of life. Johnson, Davies and Shapiro (2005) for instance, aver that the presence of infrastructure often leads to appreciation in property values while its absence affects neighbourhood properties adversely. Hammer, Booth, and Love (2000) state that provision of good and adequate infrastructure is central to property values. Harvey (1993) opined that a residential user may be prepared to pay a high value for a property depending on his consideration for basic facilities such as accessibility, water and electricity. Litchfield (1974) observes that areas with basic facilities such as access roads, good drainage, electricity, public water supply and telephone attract high property values.
Aibangbee (1997) further explains that accessibility in terms of a good road network leads to high rental values of locations with greatest accessibility advantages. According to Ajibola, et. al (2011) where properties are accessible via good road networks, it would enjoy high rental values. Keeble (1969) also affirmed that properties in areas that are well serviced with pipe-borne water enjoy higher rental values compared to areas where the service is non-existence. Other important determinants of property values according to Keeble (1969) include provision of good communication network, electricity and drainage. Nevertheless, in Lagos, Nigeria, Odudu (2003) observed that property values are impacted by various form of infrastructure. Similarly, Adebayo (2006) confirmed that the presence infrastructural facilities increase property values in Lagos and adversely affects it if it is absence. Unfortunately, the level of availability of infrastructure in most developing countries is drastically low, yet it is generally believed that provision of infrastructure in residential property would continue to attract prospective tenants and therefore increase property values (Ajibola, et. al, 2011).
NATURE OF PARKS AND OPEN SPACES
Open spaces are valuable resources. They help to improve the quality of life in urban areas, have essential environmental functions, and increasing the attractiveness of the places in which people live and work (Ahern, 1991; Alhagla, 2008).Open space provides a range of benefits to citizens of a community, beyond the benefits that accrue to private landowners.
Parks and natural areas can be used for recreation; wetlands and forests supply storm water drainage and wildlife habitat; farms and forests provide aesthetic benefits to surrounding residents (Wald and Hosteller, 2010). In fast growing urban and suburban areas, any preserved land can offer relief from congestion and other negative effects of development. Both publicly held and privately held lands can provide open space benefits (The Trust for public land, 2009). Concern over the preservation of open space has been growing in recent years as rates of development have increased. There is evidence to suggest that in some areas, the rate of land conversion to development doubled in the late 1990s from rates of earlier decades (USDA 1997). In response, state and local governments, private land trusts, and even the federal government.
CHAPTER THREE
RESEARCH METHODOLOGY
Introduction
In this chapter, we would examine the methodology adopted in this study to scientifically present and analyze the facts drawn from various sources. Research methodology is the specific procedures or techniques used to identify, select, process, and analyze information about a topic. In a research study, the methodology section allows the reader to critically evaluate a study’s overall validity and reliability.
Design of the Study
The research method used for this study is descriptive survey.
Sources of Data
The researcher adopted both the primary and secondary sources of data
Primary Sources of Data
The primary sources of data consisted of the design and administration of questionnaires which was used to collate data for the analysis of the research
Secondary Sources of data
The secondary sources of data consisted of data derived from the review of related literature, publications and journals
Area of the Study
Ikeja GRA is serene location in Ikeja, Lagos mainly inhabited by the affluent. It is a Government Reserved Area in Ikeja with various luxury apartments and 5 star luxury hotels. Ikeja GRA is a High-end residential region in the Ikeja Local Government, Lagos. The area is home to a considerable number of wealthy individuals in the state. Ikeja GRA lies in close proximity to the Murtala Mohammed International Airport, two air terminals, and Ikeja City Mall. The street has many attractions for people to enjoy – both locals and visitors. You can find restaurants, cafes and bars and hotels on this street very easily.
Population
A population study is a study of a group of individuals taken from the general population who share a common characteristic, such as age, sex, or similar environment. The population of the study comprise of 120 residents of GRA Ikeja, Lagos.
CHAPTER FOUR
DATA ANALYSIS, FINDINGS, DISCUSSION
Introduction
This chapter focuses on the presentation, analysis and interpretation of data collected through the use of questionnaire distributed to residents in GRA Ikeja. It also presents the results and discussions from this study in three sections under the following subheadings:
- Presentation of Demographic Data
- Analysis of Data and Testing of Hypotheses
- Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introductions
This chapter deals with the summary of the finding of the study, conclusion drawn and recommendation.
summary of finding
Critical analysis of the study shows that parks and open spaces affect rent and values of residential properties in GRA Ikeja, and the merits of parks and open spaces on residential properties in GRA Ikeja, Lagos is very high.
conclusions
In conclusion, it can be stated that parks and open spaces affect rent and values of residential properties in Independence Layout, and the merits of parks and open spaces on residential properties in Independence Layout, Lagos is high.
Open space is an essential part of any urban development and serves several functions that are expedient for basic living. However, the continuous growth of urban areas without effective management and monitoring of their use has led to environmental consequences such dilapidated parks that has become hideouts for criminals, illegal structures, lack of adequate facilities/amenity and open space policies, lack of a capable agency in handling development and maintenance, poor intergovernmental relationships, shortage of landscape, financial constraints and lack of citizen inclusiveness in participation. Simply put, these negative effects of mismanagement have resulted in the poor quality and further decay of the built environment. As this study has observed these setbacks in open space management and made suggestions in dealing with the problems, it will become a journey to better prioritizing, channeling of human, finance and functional institutional resources to abate the dire consequences of a nation’s dwindling open space reserve.
Recommendation
The following suggestions are made towards addressing the management issues of open spaces in Nigeria.
- There is need for proper planning and efficient use of open spaces in Nigerian cities.
- There is need for a more precise approach to urban development in order to achieve efficiency and effectiveness.
- The strict enforcement of statutory guidelines for development. By formulating effective urban planning policy.
- To combat cites deformed by degradation and dilapidation of open space structures and facilities; there is need for urban land monitoring, development control and effective management.
- The need for well-designed and landscaped open spaces to enhance the aesthetics of the environment. This should include tree plantings, shrubs, grassing, ground cover, rocks, and water fountains these add to the beauty of the environment by providing shade, beauty, circulation, serenity and well-being.
- Provision of amenities and open space policies to guide the maintenance of parks.
- Conversion of unutilized and empty lands constituting nuisance in the cities to be designed as public open spaces in addition to the few existing ones.
- Proper education and awareness should be delivered to the public.
References:
- 1) Ahern, J,O(1991) Planning for an Extensive Open Space System: Linking Landscape Structure and Function.Landscape and Urnab Planning21(1-2),131-145.
- 2) Ahianba,J.E,Dimunna,K.O., and Okogun,G.R.A (2008).Built Environment Decay and Urban Health in Nigeria. Human Ecology, 23(3), 259-265.
- 3) Alabi,M.O (2009)Urban Public Open Space through Vegetative Enclaves in Lokoja,Nigeria. Geography and Regional Planning 2(3)051-054.
- 4) Al-Hagla, K (2008) Towards a sustainable Neighborhood: The role of Open spaces.Internal Journal of Arhitectural research 2(1),162-177.
- 5) Arigbola, A(2008) Improving Urban LandUse Planning and Management in Nigeria: The case of Akure. Theoretical and Empirical Research in Urban Management,3(9), 1-14.
