Infrastructure Condition Model as a Measure of Property Investment Performance in Ilorin; The Contemporary Approach

Infrastructure stands out as one of the indicators of an ideal urban economic development and its role creates attraction for all forms of investments including real estate investment. This study examined the infrastructure condition model; which serves as a measure of property investment returns in Ilorin; the Kwara State capital. The study employed an exploratory research design. The sample frame was 1,228 and a model was used given 984 as sample size, and these questionnaires were administered through stratified sampling technique and only 664 questionnaires were completed and returned, representing 67% of the total sample size. The study utilised both descriptive and inferential statistical methods of data analysis. The result of descriptive analysis of the performance of property investment revealed that a comparable average return across the study areas in Ilorin differed; ranging from 10% to 25%. The result of the infrastructure condition index developed through the scoring analysis based on descriptive modelling revealed a relative condition index of between 60% and 61% in Ilorin. The result of an inferential method using correlation to establish the relationship between infrastructure condition index and property investment return revealed that 7(seven) infrastructure maintained perfect significant correlation with property investment performance at p-value less than 0.05 level of significance. The result of regression modelling revealed that 60.4% variation in property performance is explained by seven infrastructures. Therefore, the study concluded that the performance of property investment is impressive in the areas where there is a frequent market transaction with better infrastructure conditions which is strongly influenced by constant potable water with a correct system of road networks, security, drainage system and streetlight. The study recommends that real estate investors wishing to embark on real estate investment projects should make it a point of duty to be conversant with the functionality of infrastructure in human sustainability and real estate investment growth.