Comparative Study of The Influence of Gated and Non-Gated Residential Estates on Property Values in Edo State, Nigeria

Abstract

The study demonstrated the influence of the gated estate on residential property value vis-a-vis the non-gated estate with specific focus on public residential estates in Benin City, Nigeria. The study sought to establish whether there are significant difference(s) in the rental values of gated and non-gated residential estates, factors that influence choice of residential (gated and non-gated) estates and preferences for the requirement of a residential estate. To achieve this, structured questionnaire was administered to 20 household heads residents in C130 Estate which is a gated estate, out of which 18 were returned representing 90% response rate while 213 households’ heads who were randomly selected in the non-gated estates were administered questionnaire, out of which 191 copies were retrieved, representing 89.67% response rate. The census method was adopted in the distribution of questionnaire to the residents in the gated estate while the stratified random sampling technique was adopted in the distribution of questionnaire to the residents of the non-gated estates in the study area. Data collected were analysed using descriptive statistics, trend analysis and graphs. The study revealed that, there were significant difference between the rental value of gated and non-gated estates. The study further established that location, accessibility, nearness to place of work  and security are important factors attracting home seekers to place of residence whether gated or non-gated. However, good and regular water supply, good waste disposal system and functional amenities were discovered to be useful features required by home seekers in the choice of residential estate.