Design Inadequacies and the Maintenance of University Buildings in Ile-Ife, Nigeria

It is imperative that the maintenance possibilities of a building be considered at the design stage, this will enhance ease of maintenance of such buildings and prevent building failures resulting from design inadequacies. This study analyzed the design configurations of selected buildings in Obafemi Awolowo University, Ile-Ife; the maintenance problems traceable to design; and also determined the impact of design related problems in the maintenance of the buildings. This was with a view to providing information that could enhance the maintenance of future buildings in the study area. The study used primary data obtained from physical observations of the selected buildings and secondary data from existing maintenance records. There were thirteen (13) faculties with forty-four (44) buildings and eighteen (18) lecture theatres within the study area. Using stratification based on design configuration, twenty-seven (61%) faculty buildings and ten (56%) lecture theaters were selected as sample size for the study. Forty five questionnaires were administered on the staff of Maintenance Unit, building occupiers and the staff of Physical Planning and Development Unit (PPDU) of the university. Data collected were analyzed using frequency counts and percentages. The results of the study revealed that in-built access for maintenance operations was provided for only 31% of the total building facades. The problems encountered in the management of maintenance operations on the defective elements were traceable to factors such as environmental impacts (13%), structural stability (11.1%), functional failures (10.5%), and inaccessible defective portions (9.3%). Others were aesthetic considerations (9.3%), users’ impacts (9.3%), choice of inappropriate construction materials (8%), and building shapes (6.8%). The identified physical impacts traceable to design inputs were moisture stain (2.92%), weeds on building elements (2.63%) cobweb stains (2.34%), broken concrete fins at stairwells (0.15%), plumbing defects (0.44%), blocked drains (0.15%), and undersized roof gutter (0.15%) among others. The study concluded that problems encountered in the management of the maintenance operations such as provision of as-built drawings; working space and safe access to defective portions; choice of correct construction materials and methods by certified personnel were not taken care of during the design stage. The study recommended that all building items, elements or components be designed and constructed for ease-of-maintenance to ensure better future performances. Keywords: Building, Building Design, Building Reliability, Building Availability, Building Maintainability, Maintenance Problem

Comparative Analysis of the Risk-Return Characteristics of Office and Shop Property Investments in Osogbo, Nigeria

This study aims at examining the risk-return characteristics of commercial real estate investments in Osogbo Nigeria. Primary data used for this study was obtained through questionnaire survey. A total enumeration survey of all the estate surveying and valuation firms in the study area was carried out. The data collected was used to calculate the income, capital and total returns on investments in commercial properties in Osogbo. Furthermore, descriptive statistics was used to determine the asset returns and asset risk of the selected investment assets. This involved the use of weighted means, percentages and Standard deviations. The study revealed that investments in commercial properties in the study area provided a continuous positive rate of returns ranging between 3.12% and 34.35% while the corresponding risk ranged between 1.50% and 10.11%. The investment information provided in this study has significant implication for both local and foreign investors desiring to invest in the Nigerian property market. Keywords: Asset, Return, Risk, Investment, Portfolio

Housing construction materials and house rent trends in Ede, Nigeria

The study examines the relationship between housing construction material prices and house rents in Ede town, Nigeria, from 2002 to 2020 to guide investment decisions. The research was conducted using a questionnaire survey. The study’s population consists of landlords, estate surveyors and valuers, real estate agents, and building material suppliers/sellers in the study area. Data obtained was analysed employing descriptive and inferential statistical tools. The results showed that house rents and building material prices maintained an upward trend within the study period. Changes in house rents correlated with some percentage changes in the prices of selected building materials (cement, roofing sheet, reinforcement bar, sand and tiles). However, all the correlations are not statistically significant at 0.05 level. The regression model’s coefficient of determination R-squared revealed that building material costs explained about 43.6% of the variation in house rents. This result implies that factors other than building material costs may influence the changes in the house rents. The study’s finding will be valuable to stakeholders making real estate investment decisions in the study area and similar developing economies in general