Comparative Analysis Of Factors Influence Ing Occupancy Ratio And Rental Value Of High- And Low-Rise Buildings In Kaduna

Abstract

The study examines the factors influencing the occupancy ratio and rental value of high-rise and low-rise buildings in the Kaduna metropolis of Nigeria. A quantitative approach was adopted with questionnaires administered to thirty-five registered estate surveyor firms in the study area with purposive sampling techniques used to identify firms managing both low- and high-rise buildings. Thirty of the administered questionnaires were returned valid for analysis showing an 85.7% success rate. With the aid of a five-point Likert scale analysed with average mean and relative importance index (RII), findings revealed that the non-provision of elevators was ranked highest among the factors influencing rental values of high-rise buildings with 0.77 RII value while that of low-rise building was found to be population/demand with 0.71 RII. Also revealed by the study is an upward trajectory of rental values for both high and low-rise buildings; although, low-rise buildings commanded a higher rental value when compared to high-rise buildings. With a similar RII value of 0.80, location influences the occupancy ratio of high-rise buildings while individual preferences do for low-rise buildings. The study, therefore, concludes by recommending that investors and stakeholders in the housing sector should intensify regulation and supervision of high-rise building constructions to ensure adherence to sound structural design and execution on-site alongside the provision of basic facilities like emergency exits, fire extinguishing systems and elevators to further enhance the rental values and eventual return on investment.