Impact of HVOTLs on Residential Property Rental Values in High-Brow Lagos Metropolis

Abstract

High Voltage Overhead Transmission Lines (HVOTLs) otherwise refered to as power-lines have been debated to facilitate property value diminution. This current study investigates the impact of power-lines on the rents of residential properties in high brow Lagos. Questionnaires were distributed to registered Estate Surveying firms, residents within 200m to power-lines in Surulere area of Lagos while an indepth interview of the Manager and field officers of the Akangba PHCN sub-station was conducted. On the average, a response rate of 66.5% was recorded. Findings revealed that residential property rents increased as distance from power-lines increased averagely by =N=5,000.00 and a mean value impact of =N=786 on neighbourhood rental value.The study encouraged the use of buried armour cables instead of overhead power-lines in future and the strict enforcement of ROWs within Lagos metropolis where power-lines already exist, in a bid to abate the effect of power line on property investments.

Keywords: HVOTLs, Power-line, Residential, Property, Rental Value, Surulere, Lagos and Metropolis.