EFFECT OF WATER SCARCITY ON RESIDENTIAL PROPERTY PRICES
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EFFECT OF WATER SCARCITY ON RESIDENTIAL PROPERTY PRICES
ABSTRACT
This study examines the effects of water on residential property values in Owerri, the capital of Imo state. The work was the result of a rigorous and exhaustive fact-finding assignment on water supply undertaken by the researcher, as depicted in various chapters and sections of this report.
As a result, this work seeks to reveal the impact of water on many Nigerian individuals by making direct reference to residential property prices for infrastructure in Owerri, Imo State’s capital.
There was a significant disparity in the prices of properties with very good sources of water supply and those without, resulting in unnecessary social stratification among citizens as the rich who could afford the pleasure do so
while the poor masses are left to wallow in sparsely furnished residential structures and poor water supply conditions, accompanied by untold hardship.
This investigation also demonstrated the state government’s incapacity to complete the MDG water project in the state for an extended period of time, which would have reduced people’s suffering significantly.
The masses that this research found to be reasonably consistent in paying their taxes preferred that the government provide better social services with their public funds rather than enabling them to cater for their own needs.
Finally, the government was urged to harness other alternative sources of water supplies available to the masses, such as bore-holes, rain, and stream waters, and improve their conditions in order to prevent the sharp divide created between the well-off and the poor, who cannot afford the luxury of expensive residential properties with convenient water supply sources.
During the research, many existing papers, journals, periodicals, and statistical records were obtained from credible sources and used in the compilation process. The researcher also used primary data obtained through interviews and questionnaires.
The structured questionnaire titled “Effect of Water on Residential Property Prices In Owerri Capital City of Imo State, Nigeria – Questionnaire (EOWORPPIOCCISNQ)” was distributed to both (senior and junior) staffs in the Imo State Ministry of Water Resources and tenants living in the Owerri metropolis, totalling 92 final sample size drawn from a sample population of 220 people chosen by the researcher.
The acquired data was presented and examined using the work’s two hypotheses and research questions. The sample size was calculated using the Yaro Yamani statistical tool, and the hypotheses were evaluated using the Chi-square (X2) method of analysis.
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