BACKGROUND TO THE STUDY
The poorest urban populations in Africa live in slums. Slum dwellers' homes are typically dilapidated and overcrowded, in districts prone to floods and plagued by poor sanitation and a lack of drinkable water. Slums arise quickly in places undergoing rapid urbanisation without a corresponding increase in housing and infrastructure availability and maintenance. Slums have been defined according to Ackerman (2021) as a collection of buildings or an area marked by overcrowding, degradation, unsanitary conditions, or a lack of basic and important utilities such as drinkable water, drainage systems, schools, health facilities, recreational grounds, and post offices, among others. Smart (2018) assert that slums form naturally and, in certain situations, as a direct result of the predominance of poverty among city dwellers.
Slums, which are considered an aspect of urban deterioration, are also the outcome of overcrowding in congested cities, where impoverished immigrants attempt to settle for any available lodging, regardless of quality. Despite the overwhelming downsides, there are some advantages to living in slums. Some environmentalists and organisations, such as the United Nations Population Fund, have maintained in recent years that, despite their poor living circumstances, slums are beneficial both ecologically and socially. Slums have a lower environmental effect than dispersed rural settlements because of their high density of habitation.
Furthermore, the birth rate of new slum inhabitants is lower than the replacement rate, mitigating the problems of overpopulation caused by labor-intensive subsistence agriculture and freeing up arable land for nature or more efficient industrialized agriculture. Slum dwellers appear to have far greater chances of finding work, starting small enterprises, and rising out of poverty than rural residents (Bello 2016). Nigeria is one of the countries with the highest slum prevalence. The expansion of shanty towns, squatter communities, and slums in most of Nigeria's cities, especially Cross Rivers State, which is the topic of this study. However, it has been claimed that the existence of slums raises the rate of crime in the region, lowering the value of residential property (Omole, 2010).
Slums' ubiquity in Nigeria has had a substantial impact on the value of residential homes in impacted regions. This value is calculated by the prices of residential property or the value of rent collected over a period of time. The researcher, on the other hand, will investigate the influence of slums on the value of residential property in Nigeria.
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