Investigating the Effect of the Redevelopment of Infrastructure on Property Values
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Infrastructure can be broadly defined as the facilities that provide society with the services necessary to conduct daily life and to engage in productive activities (Mody, 1997). The importance of efficient infrastructure to the achievement of a country’s development goals can not be overemphasized. Infrastructure is one of the drivers of property value due to the functions it serves the people who use the property. It improves the function of the property while also serving to make the neighborhood more conducive. Redevelopment of infrastructure deals with rebuilding and restoring infrastructure that is in bad shape or does not meet the population's needs. With Uganda's growing population and its development goals, there is a need for the redevelopment of infrastructure. This redevelopment however has some effect on property characteristics and other factors that drive value. This study set out to investigate these changes and as a result the overall effect on the property value. The newly redeveloped Namirembe road and the properties fronting it were used as the case study for this research. The researcher found out the different properties in the study area and how they were affected. Interviews, questionnaires and observation were used to collect data and it was analyzed using Microsoft excel. It was found that the redevelopment affected some of the properties positively but others negatively due to the type of property, its location along the road and the work that was done on the road around it.