THE IMPACT OF LOCATION AND ACCESSIBILITY ON PROPERTY VALUE, CASE STUDY OF OKE-IRESI, EDE SOUTH LOCAL GOVERNMENT
Abstract
ABSTRACT
This study examined the impact of location and accessibility on property values, with a case study of Oke-Iresi in Ede South Local Government Area of Osun State, Nigeria. The research aimed to evaluate how spatial factors such as proximity to infrastructure, road networks, public services, and neighborhood characteristics influence real estate prices and investment decisions. A descriptive survey research design was adopted, utilizing structured questionnaires administered to tenants within the study area. Data were analyzed using statistical techniques to identify patterns between accessibility variables and property valuation.Findings revealed that accessibility to major roads, commercial centers, educational institutions, healthcare facilities, and transportation routes significantly increases property values, while poor road conditions, infrastructural deficits, and environmental challenges negatively affect prices. The study also established that location remains a primary determinant of property demand, rental yield, and long-term investment viability. Furthermore, accessibility improvements such as road rehabilitation and infrastructure development were found to enhance neighborhood attractiveness and market competitiveness.The study concludes that location and accessibility are critical determinants of real estate value and play a strategic role in urban development and housing investment decisions. It recommends that government and urban planners prioritize infrastructural development, road connectivity, and equitable distribution of public amenities to promote balanced property value growth and sustainable urban expansion. The research contributes to existing knowledge by providing empirical evidence from a semi-urban Nigerian context and offers practical insights for investors, planners, and policymakers.
Keywords; Location, Accessibility, Property Values, Real Estate Investment, Urban Development, Infrastructure, Road Network, Public Amenities, Neighborhood Characteristics,
Word Count 235
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