Valuation of Properties in Close Proximity to Waste Dumps Sites: The Nigeria Experience/Netoli Savartynu Esancio Turto Vertinimas: Nigerijos Patirtis (Report‪)‬

1. INTRODUCTION The assessment of a property usually depends on the property's unique characteristics, each of which provides utilities or disutility to individuals. These characteristics are generally classified into those which are external and those that are internal to the property (Mackmin, 1985). External influences relate to the general state of the economy, population, employment, immigration, finance, location, transportation and environmental attributes, while the internal influences essentially constitute the specific details of the property such as size, accommodation, condition, design, layout, age, type and plot size (Adair et al., 1996; Bello, 2000). These value determining factors can be attributable to the nature of property as a package of goods and services (Bello and Bello, 2008). Therefore, property extends beyond shelter (the physical attributes of a property) to include environmental characteristics or attributes which refers to the quality of the neighborhood and location within the neighborhood. Environmental characteristics are manifested in the form of pull and push effect of the neighbourhood. The push effects could be characterized by proliferation of squatter settlements, air and water pollution, squalid condition of environmental sanitation, and breakdown of waste disposal arrangement (Bello and Bello, 2008) while the pull effect could be good roads, schools etc. When properties are in close proximity to environmental factors which could lead to push effects like waste dump sites, they demand special assessment on the part of the Estate Surveyors and Valuers. The question therefore, is what techniques do the Nigerian Valuers adopt in valuing properties close to waste dump sites? Are the techniques different from those used in properties not close to dump site or any environmental hazards?