THE IMPACT OF SMART BUILDING FEATURES ON PROPERTY VALUE AND OCCUPANT SATISAFACTION IN COSGROVE SMART ESTATES WUYE

As buildings develop smarter, they become more than just places to dwell; they become dynamic, efficient, and responsive spaces. This study examines the impact of smart building elements on property value and tenant happiness, utilizing Cosgrove Smart Estate in Wuye, Abuja, as a case study. The research aimed to ascertain whether advancements such as home automation, energy management systems, and intelligent security not only augment market value but also improve daily living experiences. Tenants, property managers, and real estate experts within the estate, totaling 109 respondents, were given structured questionnaires as part of a descriptive survey study methodology. To uncover patterns and relationships, the responses were examined using regression analysis, correlation, and descriptive statistics. The results were clear: smart features provide real advantages in addition to being aesthetically pleasing. A large majority of respondents (87%) agreed that smart features increase property value, while 81.7% expressed greater satisfaction living with such technologies and 89% noted improved comfort and convenience. Higher valuations, quicker rental speeds, and shorter vacancy times were all enjoyed by properties with integrated smart technologies. Investors acknowledged the competitive advantage such homes possess in the market, while tenants expressed increased comfort, convenience, and peace of mind. In summary, smart technologies are a strategic necessity for contemporary residential constructions rather than merely a luxury. The study recommends that policymakers implement incentives to hasten adoption and that developers in Nigeria adopt these features as normal practice. To inform wider adoption, future studies should examine the cost-benefit ratio of smart technologies in various Nigerian towns.