An Examination of the Influence of Housing Attributes on Residential Property Rental Value in South-western Nigeria Using the Hedonic Pricing Model

Authors

  • Adedayo Ayodeji Odebode Department of Estate Management, Faculty of Environmental Design and Management, Ile-Ife, Osun State, Nigeria
  • Dare Emmanuel Oladimeji Department of Estate Management, Faculty of Environmental Design and Management, Ile-Ife, Osun State, Nigeria
  • Oyeronke Toyin Ogunbayo Department of Property, Planning, and Surveying, Faculty of Environmental Science and Management, Ibadan, Oyo State, Nigeria

DOI:

https://doi.org/10.11113/intrest.v18n2.385

Keywords:

Housing market, housing attributes, hedonic pricing model, rental values , residential properties

Abstract

This study adopts the hedonic pricing model to examine the influence of housing attributes on residential property rental value in south-western, Nigeria. This is to provide information on the housing attributes that could increase residential property rental values based on the current market situation. The study used primary data and employed quantitative data analysis. The data obtained were analysed using descriptive and inferential statistics. The study revealed the significant factors that influence rental value across different residential property types in south-western Nigeria. The paper is significant because it provides the necessary information on the influence of housing attributes in the study area. Hence, it enhances increasing knowledge in profitability, which could shape both local and foreign investors' investment decisions.

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Published

2024-12-12

How to Cite

Odebode, A. A., Oladimeji, D. E., & Ogunbayo, O. T. (2024). An Examination of the Influence of Housing Attributes on Residential Property Rental Value in South-western Nigeria Using the Hedonic Pricing Model. International Journal of Real Estate Studies, 18(2), 120–129. https://doi.org/10.11113/intrest.v18n2.385

Issue

Vol. 18 No. 2 (2024): INTREST

Section

Articles

License

Copyright of articles that appear in the International Journal of Real Estate Studies belongs exclusively to Penerbit Universiti Teknologi Malaysia (Penerbit UTM Press). This copyright covers the rights to reproduce the article, including reprints, electronic reproductions, or any other reproductions of similar nature.