GREEN INFRASTRUCTURE: RESIDENT'S PERCEPTION AND ITS ENVIRONMENTAL IMPLICATIONS ON HOUSING PRICE VARIATION IN LAGOS, NIGERIA

Abstract

The study evaluated the fluctuation of housing prices and its impact on green infrastructure, as well as the opinions of inhabitants in Lagos, Nigeria. Data collection was conducted using a descriptive cross-sectional survey approach, which included the use of a well-structured questionnaire. GPS and laser measurement equipment were employed in various residential density areas: Low Density Residential Area (LDRA) with a count of 281, Medium Density Residential Area (MDRA) with a count of 563, and High-Density Residential Area (HDRA) with a count of 656. Analysis involved the utilization of descriptive and inferential statistics. The analysis of housing prices indicates that 73.5% of two bedroom houses in low-residential areas have a value ranging from 7 to 24 million naira. Additionally, 78.0% of duplexes in all three residential areas are priced between 35 to 56 million naira, with the most common price range being 35 to 45 million naira. The ANOVA results indicate that there is a substantial difference in the distribution of housing prices across different residential densities for two-bedroom apartments (F = 116.534, p < 0.05), three-bedroom apartments (F = 186.938, p < 0.05), and Duplexes (F = 383.473, p < 0.05). The principal component analysis reveals that the variables have substantial loadings on two-bedroom and duplex housing units. According to the perception of stakeholders, 60.7% of them believe that the age of green infrastructure has an impact on home prices. The results indicate that the age (t = 10.251, p < 0.05) and quality (t = 4.064, p < 0.05) of green infrastructure have a substantial impact on the pricing of 2-bedroom apartments.