Influence of WASH practices, COVID-19 on residential property value in Oyo State

ACCESS to Water, Sanitation, and Hygiene (WASH) facilities is essential for public health and welfare, particularly in developing areas. The COVID-19 pandemic has highlighted the significance of these facilities in mitigating disease spread. This study seeks to examine the impact of WASH practices and the pandemic on residential property prices in Oyo State, Nigeria. Comprehending this link can yield insights for policymakers and real estate stakeholders. In recent years, the significance of Water, Sanitation, and Hygiene (WASH) facilities has received considerable focus, especially during public health emergencies such as the COVID-19 epidemic. This paper examines the impact of WASH practices and the pandemic on residential property prices in Oyo State, Nigeria. Comprehending this link is essential for politicians, real estate investors, and inhabitants.

WASH facilities are crucial for maintaining health and preventing disease outbreaks. According to WHO (2020), inadequate WASH services can lead to the spread of waterborne diseases, significantly impacting community health. Studies by Bhatia et al. (2019) demonstrate that improved sanitation directly correlates with reduced morbidity rates in urban settings. WASH facilities encompass a range of services, including access to clean water, proper sanitation, and hygiene practices. These are essential for sustaining health and well-being, and they play a critical role in preventing the spread of diseases. The COVID-19 pandemic has dramatically shifted public perception regarding hygiene. A study by Paltiel et al. (2020) highlights that the virus’s transmission is closely linked to poor hygiene practices, which has led to increased demand for properties with good sanitation facilities. This shift has influenced consumer preferences in the real estate market (Afolabi, 2021).Current WASH situation in Oyo State

Despite improvements, many areas in Oyo State still face challenges with inadequate WASH facilities. Issues such as unreliable water supply, poor sanitation infrastructure, and a lack of hygiene education contribute to health risks for residents. Educating residents about the importance of WASH practices can further drive demand for properties with adequate facilities. Community outreach programs that highlight hygiene and sanitation can foster a culture of health consciousness.

Real estate market dynamics

Research indicates that property values are affected by local amenities, including WASH facilities. According to a study by Ojo (2021), homes equipped with superior sanitation amenities are often valued higher in the market. This trend has been exacerbated by the COVID-19 pandemic, which has raised awareness about health-related amenities. The COVID-19 pandemic pinpointed the necessity of good hygiene practices, including regular handwashing and the use of sanitizers. This heightened awareness has led to increased demand for residential properties with adequate WASH facilities.Research indicates that residential properties with well-established WASH facilities tend to hold higher market values. Buyers are increasingly willing to pay a premium for homes that ensure better health and safety, particularly in the wake of the pandemic.As people became more health-conscious, properties with advanced WASH amenities (like water filtration systems and improved sanitation facilities) became more desirable. This shift in consumer preference has begun to influence property values in various neighborhoods.

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The research reveals a notable shift toward properties that incorporate advanced WASH amenities. As consumers become increasingly health-aware, they show a willingness to invest in homes that provide enhanced safety and sanitation (Ogunyemi, 2022). This trend is reflected in rising property values in neighborhoods that have made significant improvements to their WASH infrastructure. The relationship between WASH facilities and property values is also influenced by socioeconomic factors. Higher-income areas tend to have better WASH infrastructure, leading to increased property values (Adeyemo, 2021). Conversely, lower-income neighborhoods struggle with infrastructure challenges, impacting their real estate market negatively.The influence of WASH on property values is also linked to socioeconomic status. Areas with higher-income residents are more likely to invest in properties with superior WASH amenities, driving up overall market values in those regions.

To capitalise on the positive influence of WASH practices on property values, local governments and stakeholders must address existing infrastructure gaps. Investments in public WASH facilities can enhance overall community health and, by extension, property values.The demand for properties with enhanced WASH facilities is reshaping real estate dynamics in Oyo State. Neighborhoods that invest in improving their WASH infrastructure may see a rise in property values as they become more attractive to potential buyers.

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Investment in WASH Infrastructure: Local governments should prioritize investments in public WASH facilities to enhance community health and boost property values.

Public Awareness Campaigns: Initiatives to educate residents about the importance of WASH practices could promote healthier behaviors and increase demand for properties with adequate facilities.

Policy Development: Policymakers should develop regulations that encourage the integration of WASH facilities in new residential developments.

Discussion of Findings

The data reveal a substantial association between WASH practices, the impact of COVID-19, and residential property values in Oyo State. Properties with robust WASH facilities are not only more appealing but also command greater costs. The pandemic has intensified this trend, as health-conscious purchasers favour residences with enhanced sanitation and hygiene attributes.

Conclusion

The impact of WASH practices and the COVID-19 epidemic on residential property prices in Oyo State is apparent. Enhanced WASH facilities have emerged as a crucial factor influencing property appeal and valuation. The pandemic has underscored the necessity for sufficient sanitation and hygiene, prompting shifts in consumer preferences. The relationship among WASH facilities, COVID-19, and residential property values in Oyo State is a burgeoning field of study. As the significance of health and hygiene intensifies, the real estate sector is expected to persist in its evolution. Investing in WASH infrastructure and fostering awareness can improve community well-being and positively affect property values.