Evaluation of the Impact of Impact of Traffic Congestion on Commercial Property Rental Value in Mararaba, Karu LGA, Nasarawa State, Nigeria

Abstract

The objective of this paper was to evaluate the Impact of Traffic Congestion on Commercial Property Rental Value in Mararaba, Karu LGA, Nasarawa State Nigeria using appropriate standard procedure after collecting data from 127 respondents through a structured questioner administration. The study concluded that the traffic congestion has effect on the commercial property rental value in the study area.  The study  further established that: the problems including air pollution, crime activities and waste of productive hours were prevalent issues caused as a results of traffic congestion in the study area; main causes of traffic congestion in the study area are proximity of commercial properties (market) to the highway, early morning and evening hours rushing to and from work, and nonchalant attitude (behavior) of road users; traffic congestion has effect on the rental value of commercial properties in the study area hence business activities were found to increase as a result of traffic congestion and Estate Surveyors charged more rent as a result of this; Therefore, the study concluded that the traffic congestion has an impact on commercial properties value in the study area. The study further recommends ensuring effective and efficient traffic management/planning and Improvement of-street parking space, provision of pedestrian facilities.