Nelly Chapter four final correction_093444

Chapter Four: Data Presentation Research Methodology

4.1 Base Data

• Focus: Analysis of rental trends for commercial properties in Enugu metropolis.

• Method: Distribution and collection of questionnaires.

Questionnaire Distribution Summary

• Table 1: Distribution and Return of Questionnaire

  • Class of Respondent: Estate Surveying and Valuation Firms

  • Sample Size/Number Distributed: 44

  • Number Returned/Retrieved: 37 (84.1%)

  • Number Not Returned/Improperly Filled: 7 (15.9%)

  • Total: 100%

  • Observation: High response rate of 84.1%.

Respondent Demographics

• Table 2: Respondents Distribution by Sex

  • Male: 29 (78.4%)

  • Female: 8 (21.6%)

  • Conclusion: Predominantly male respondents.

• Table 3: Respondents Distribution by Age

  • Ages 25-34 years: 3 (8.11%)

  • Ages 35-44 years: 10 (27.03%)

  • Ages 45-54 years: 14 (37.84%)

  • Ages 55-64 years: 6 (16.22%)

  • Ages 65 and above: 4 (10.81%)

  • Conclusion: Majority aged between 35-64 years.

Respondent Marital Status

• Table 4: Marital Status

  • Single: 12 (32.4%)

  • Married: 25 (67.6%)

  • Divorced: 0

  • Observation: Most respondents are married.

Respondent Academic Qualifications

• Table 5: Academic Qualifications

  • WASC/GCE/NECO: 7 (18.9%)

  • NCE/OND: 9 (24.4%)

  • B.Sc./HND: 12 (32.4%)

  • M.Sc.: 5 (13.5%)

  • Ph.D.: 4 (10.8%)

  • Conclusion: Majority hold HND/B.Sc qualifications.

Duration in Practice

• Table 6: Duration in Practice

  • 1-5 years: 2 (5.4%)

  • 6-10 years: 5 (13.5%)

  • 11-15 years: 18 (48.6%)

  • 16 years and above: 12 (32.5%)

  • Conclusion: Most respondents have significant experience in practice.

Categories of Commercial Properties

• Table 7: Categories of Commercial Properties Occupied

  • Offices: 22 (59.5%)

  • Shops: 15 (40.5%)

  • Observation: Focus on offices and shops for analysis.

Analysis of Data and Interpretation of Results

• Rental Values Analysis: 2016-2023 using annual average rental values.

• Method: Weighted mean was utilized for accurate reflection of rental values.

Weighted Rent Calculation for Offices (2022)

• Table 8: Weighted Rent for Offices

  • N800,000: 6 units (0.16)

  • N850,000: 7 units (0.19)

  • N950,000: 8 units (0.22)

  • N1,000,000: 9 units (0.24)

  • N1,200,000: 7 units (0.19)

  • Total Weighted Rent: N966,500.

Rental Trends from 2016-2023

• Table 9: Rental Trends

  • Sample data by year shows positive rental growth:

    • 2016: Offices N400,000, Shops N280,000

    • 2023: Offices N1,800,000, Shops N1,300,000.

• Indicates a robust market performance over the years.

Annual Rental Growth Rates

• Table 10: Annual Rental Growth Rates

  • Detailed percentage change year-on-year from 2016 to 2023 for both offices and shops.

  • Example: 2017 growth for offices = 30%.

  • Overall Conclusion: Positive annual growth trend observed.

Factors Influencing Rental Values

• Table 11: Factors Influencing Rental Values

  • Critical Factors:

    • Tenant demand (Ranked 1).

    • Infrastructure improvements (Ranked 2).

    • Government policies (Ranked 3).

  • Noted that tenant demand significantly influences rental stability.

Hypothesis Testing and Conclusion

• Table 12: Analysis of Variance

  • Rental value variation significantly impacts commercial property rental values.

  • Decision Rule: Accept the null hypothesis based on F-ratio comparison (calculated F = 18.7414).

  • Conclusion: Statistically significant findings correlate with rental variations and property values.