ESTATE SERVICE AND ITS EFFECT

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ESTATE SERVICE AND ITS EFFECT

Abstract

The study, which included a comparative investigation of rental values of residential properties in restricted access gated estates and open access gated estates, sought to find disparities in rental values.

Analysing the rental prices of Lekki Peninsula estates with restricted access (Crown Estate) and open access (Victoria Gargen City) as case studies would help investors and policymakers make better decisions.

To achieve the study’s goal, structured questionnaires were distributed to 160 residents of Crown Estate, with 116 respondents returning their completed questionnaires; 120 questionnaires were distributed to residents of Victoria Garden City,

with 90 questionnaires returned; and 45 questionnaires were distributed to Estate Surveyors and Valuers managing properties in Crown Estate and Victoria Garden City (VGC).

The questionnaires were then analysed using appropriate statistical techniques such as frequency distribution tables and the t-test. According to the study, being gated had no effect on the choice of residency.

However, it was observed that location was an important factor in the selection of either estate. In addition, the results revealed a considerable variation in rental values between the two estates.

As a result, the study suggests that relevant aspects, such as location and supply of high neighbourhood quality, be included in the planning of any estate.

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