Site Attributes and Capital Value of Recreational Real Estate Investment in Akwa Ibom State, Nigeria.

This research aimed at examining the site attributes and capital values of recreational real estate in Akwa Ibom State, Nigeria. In order to achieve the stated aim, the objectives were to examine the site attributes of recreational real estate in the study area, to determine the mean capital value of recreational real estate investments in the study area and to establish the relationship between site attributes and recreational real estate investment in the study area. The research work adopted the cross-sectional survey type of design. The research population comprised Estate Surveyors and Valuers who have rendered professional services in the study area. Stratified random sampling method was used. Both descriptive and inferential statistics were employed in the analysis of the data using the Microsoft Excel software. Data obtained was analysed using regression analysis and analysis of variance. Site attributes formed the independent variable and mean capital value constituted the dependent variable. The study found out that the site attributes comprised considered by investors in the study area comprised plot size, plot shape, utilities and open space. The study also found out varying capital values across the 31 Local Government Areas of the State, with the maximum capital value of ₦164,100,000.00 observed in Uyo Local Government, and the minimum capital value of ₦58,280,500.00 observed in Ika Local Government Area of the study area. Regression result showed a p-value of 0.000, which is less than 0.05, F-ratio value of 46.58 and an R² value of 88.17%. This indicated a strong relationship and implied that site attribute has a significant relationship with the capital value of recreational real estate. The research concluded there was a statistically significant relationship between site attributes and capital value of recreational real estate in Akwa Ibom State. The findings in this research can aid policy makers in reintegrating and rebuilding sub-Saharan African nations for a sustainable development. [ABSTRACT FROM AUTHOR]