TY  - JOUR
T1  - The Accuracy of Prediction in Commercial Property Development Appraisal in Lagos, Nigeria
AU - , M.O. Bello AU - , Ojo Babajide AU - , Ojo Babajide 
JO  - Pakistan Journal of Social Sciences
VL  - 3
IS  - 9
SP  - 1103
EP  - 1107
PY  - 2005
DA  - 2001/08/19
SN  - 1683-8831
DO  - pjssci.2005.1103.1107
UR  - https://makhillpublications.co/view-article.php?doi=pjssci.2005.1103.1107
KW  - Commercial property
KW  -lagos
AB  - This study is structured to evaluate the accuracy of commercial property development appraisal prediction in Lagos metropolis. The study area was first classified into strata. Each stratum consists of economic nuclei where surveying activities aggregate. Within each of the economic nuclei, questionnaires were randomly administered. For the data analysis, Chi-square and test on differences between two means were employed. The study revealed that there exists a statistically significant difference between the actual and the predicted values of variable inputs such as Rental Income, Capital Cost, Development Period, Lending Rates and Investment Payback Periods. The implication is that the quality of appraisal services rendered by the Estate Surveyors and Valuers in this aspect is inadequate. To abate this, the Nigerian Institution of Estate Surveyors and Valuers and the Estate Surveyors And Valuers Registration Board of Nigeria are urged to evolve a policy that would lead to the enhancement of both the theoretical and practical knowledge in commercial property development appraisal.
ER  -