Abstract: Government policies on all fronts and sectors of the economy recognize the performance of the private sector in Nigeria and the housing sector is not left out. However, the private sector investor will not just explore housing development based on government policies and prompting as they pause and ask questions as to the performances and the risks inherent. The private sector which is usually profit oriented will naturally invest in the types of residential properties that will ensure optimum financial returns with attention to locations that will guarantee income growth and capital appreciation. Thus, this study has sought to furnish the investor(s) with the investment potentials of residential properties in selected parts of Ado Ekiti by assessing the performance of residential property investments from 2008 to 2014.A survey was undertaken on the rental and capital values of properties in GRA, Ajilosun, Ajebandele, Basiri, Adebayo and Housing Oke Ila based on interviews with some estate managers. From the survey the capital and rental values and returns on investment on, flats in the selected areas were established for the period under study. The findings show that residential property investment in GRA, Adebayo and Ajilosun produce the highest rental and capitalvalue growth. Although the returns on the investments were not at its best in all these areas during the period under study. Residential property investments in Ajebandele, Basiri and Housing Oke Ila showed lower returns. The returns from investment on flats in Basiri and Adebayo showed a remarkable increase in the last three years when compared other areas. Based on these findings it was recommended that investors should look more towards areas yielding highest returns and offering best potential while efforts should be made to boost investment performance through proper management of the property portfolio.
Keywords: performance, evaluation, real estate, properties, investment.
Title: Performance Evaluation of Residential Real Estate Properties in Ado Ekiti
Author: Adeniran Ayo Ade
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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