The Impact of Road Improvement on the Rental Value of Residential Properties in Nasarawa Town

Abstract

The most common and very important means of transportation all over the world is road transportation and general, accessibility depends largely on efficient transportation network. In the past, Nasarawa town is virtually neglected in the area of road infrastructures by successive governments and the town was characterized with roads which are deteriorated into deplorable situation. Poth-holes existed in all the roads thereby causing traffic problems. However, Nasarawa state government of recent has invested massively on road infrastructure improvement in Nasarawa town. This study adopted a survey design with a structured set of questionnaires to gathered information on primary source using systematic sampling technique. A total number of one hundred and ten (110) questionnaires were distributed to the households along Nasarawa-Loko road out of which one hundred and five (105) were retrieved and five (5) were rejected due to improper filling. The study reveals that road improvement vis-à-vis reconstruction of road has significant impact on the rental value of residential properties in the study area. It improves the rental value significantly. The study however recommends among other things that Landed property generally is viewed as an indicator of the wealth of a nation and their value can be enhanced through the provision of good roads which will in turn improve on the revenue generated by government from the landed properties through tax, therefore, government at all level should increase budget provision for road infrastructural construction, rehabilitation and maintenance as a matter of great importance.