CAUSES AND EFFECTS OF ABANDONED RESIDENTIAL
PROPERTIES (A CASE STUDY OF BENIN CITY)
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The unceasing abandonment of residential
buildings and development projects is so shocking in the developing countries
such that Nigerian has remained one of the countries in such difficulty
(Ayodele and Alabi, 2011; Kotangora, 1993; Osemenan, 1987). Therefore, the
significance that the incessant abandonment of residential buildings and projects
would bring several effects on real properties and its values and the economy
cannot be overemphasized since some of the abandoned buildings and development
projects provide the basic services that should enhance the real properties
developed.
Abandoned residential building is a
building whose occupant has moved out basically due to poor maintenance and
infrastructure, security, dilapidation, natural disaster which has made the
building not to be habitable. The abandonment of residential properties and development
projects is the act of isolating the building or discontinuing any activities
or maintenance works on such development project within a time frame of the
contract agreement and with no intention of returning back to the development
(Spelman, 1993). Similarly, O’Flaherty (1993) while reflecting on property
development projects suggest that it is when an owner or developer is ceasing
to provide the required maintenance management to a developed property.
However, real property development and
maintenance being a capital intensive undertaking should be critically analyzed
to ascertain its feasibility and viability before embarking on it. But, on
several occasions and as it had been observed, governments, contractors and
agencies have abandoned old buildings and development projects mid-way into
construction and completion.
The causes and effects of these residential
building abandonments are not just peculiar to a particular reason rather cut
across several reasons (Ayodele and Alabi, 2011), and as well as creating a
total dwindling effects on the values of developed properties located close and
within the vicinity. Most of this abandoned residential building usually turned
into hideout for criminals.
Although, the location of the abandoned
property and demand is equally important but accessibility and the
availabilities of the infrastructures in the real property location and in the
surrounding built environment should be of much more significant determinants
in this study context. Values in itself are not intrinsic (Schram, 2012) rather
depends on the benefits derivable from that property.
While this remained the case for real
properties, it is essential for any real property to have sustained improved
values, and this is assumed to be influenced by the availability of the earlier
mentioned infrastructures in the real property location. So, if the needed
infrastructures are imperious in determining the property values. Benin City is
the State Capital of Edo State, Nigeria is characterized with lots of abandoned
residential building due to urbanization, poor infrastructures and roads.
Residents of Benin City living in erosion prone areas have to pack out of their
houses because of flooding and fear of reptiles. Some school buildings have
been abandoned due to neglect by successive government which has turned into
hideout for criminals and cultists.
1.2 STATEMENT OF THE PROBLEM
The causes and effects
of abandonment of residential property has been a subject of concern for
experts in real estate. Therefore, the study purpose is to investigate the
causes and effects of abandoned residential property on real property and its
values. The cogent of this study is on the premise that the expected real
properties and its values in Nigeria are suspected to be dwindling as a result
of incessant abandonment of residential properties. But, by exploring this
context should help establish and recognize the causes and effects of
abandonments of buildings by citizens, governments, policy/decision makers,
educationalist and practitioners. This, through eradication of these causes
should expect to eliminate these identified effects and sustain real properties
and its values in the economy.
1.3 OBJECTIVES OF THE STUDY
The
following are the objectives of this study:
1. To
identify the causes of abandonment of residential properties in Benin City.
2. To
examine the effects of abandonment of residential properties in Benin City.
3. To
identify the solutions to issues of abandoned residential properties in Benin
City.
1.4 RESEARCH QUESTIONS
1. What
are the causes of abandonment of residential properties in Benin City?
2. What
are the effects of abandonment of residential properties in Benin City?
3. What
are the solutions to issues of abandoned residential properties in Benin City?
1.6 SIGNIFICANCE OF THE STUDY
The
following are the significance of this study:
1. The
results of this study will educate the general public on the causes and effect
of abandonment of residential building in Nigeria with a view of reducing the
issues of building abandonment in Nigeria.
2. The
outcome of this study will guide the government and policy makers on ways to
make and implement policies that will reduce the rate of residential building
abandonment in Nigeria.
3. This
research will also serve as a resource base to other scholars and researchers
interested in carrying out further research in this field subsequently, if
applied will go to an extent to provide new explanation to the topic.
1.7 SCOPE/LIMITATIONS OF THE STUDY
This
study on the causes and effect of abandoned residential properties in Benin
City will cover all the cases on abandoned residential buildings in Benin City
carefully examining the causes. It will also cover the consequences of the
abandoned buildings in the affected area.
LIMITATION OF STUDY
Financial constraint– Insufficient fund tends to impede the
efficiency of the researcher in sourcing for the relevant materials, literature
or information and in the process of data collection (internet, questionnaire
and interview).
Time constraint– The researcher will
simultaneously engage in this study with other academic work. This consequently
will cut down on the time devoted for the research work.
REFERENCES
Ayodele,
E.O. and Alabi, O. M. (2011), Abandonment of Construction Projects in Nigeria:
Causes and Effects; Journal of Emerging Trends in Economics and Management
Sciences (JETEMS), Vol. 2, Iss. 2, pp. 142-145.
Kotangora, O. O. (1993); Project
Abandonment, Nigerian Tribune.
O’Flaherty,
B. (1993) Abandoned Building: A Stochastic Analysis; Journal of Urban
Economics, Vol. 34, pp. 43-74.
Osemenan, I. (1987); Project
Abandonment; New Watch Magazine, Vol. 1, pp. 15.
Schram,
J.F. Jr. (2012); Real Estate Appraisal, Sixth Edition, Rockwell
Publishing, USA.
Spelman, W.
(1998); Abandoned Buildings: Magnets for Crime; Journal of Criminal Justice,
Vol. 21, National Vacant Properties Campaign.