Abstract
The influence of the developments in information and communication technologies (ICT) on real property market is becoming an important issue for academic discussion. This paper therefore, examined the effects of teleworking on the demand for office space in Lagos Island, Nigeria. With a random sample of 216 office users, the study showed that the long commuting time and cost coupled with the benefits of Information and Communication Technology (ICT), would result into Teleworking, reduction in the number of staff employed by their organisations and consequently a reduction in per square meter of office space required. In addition ,the study showed that the rent being paid is not a significant factor influencing the propensity to telework, but the traditional ‘8-to-5’ office commuting time would however, become flexible.
Highlights
Pantoni (1995) found that 4% of the Australian workforces were working from home with projection that this would grow to 15% within the following decade
The need for working environment for staff and storage of equipment with the highest Relative Importance Index (RII) of 4.11 is the most significant factor influencing the decision to acquire an office space. This is closely followed by the need for separate identity and business image (RII=4.05)
The study has shown that teleworking’ is favourably perceived by office users as a welcome alternative to regular office commuting in Lagos Island
Summary
Recent advances in Information and Communication Technology (ICT), especially mobile telephones and high speed computer with networking facilities (internet and intranet) have re-defined many aspects of living. Oluwoye et al (2002) observed that teleworking would significantly affect demand for what they classified as ‘A’ and ‘B’-grade office spaces within the Central Business District (CBD) of Sydney, Australia, with the lower grades possibly becoming obsolete They noted that with subsisting low rental costs and the prevalence of incentives in lease agreement, these circumstances would not support the likelihood of teleworking luring away office users in the nearest future. In another emprical study, Pantoni (1995) found that 4% of the Australian workforces were working from home with projection that this would grow to 15% within the following decade. This study is important as it will bring into limelight new evidence that is relevant to the Nigerian property market
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