Analysis of Trend in Rental Value of Residential Properties in Abuja. Book of Proceedings of the Academic Conference of Nightingale Publications and Research International on Covid-19 and Global Turbulent: Multidisciplinary Approach,

Abstract

The study analysed the trend in rental value of residential property in Abuja. The study utilized systematic random sampling to collect relevant rental data from registered estate surveyors and valuers. The study sampled 2401 residential transactions across the selected areas in Abuja The study utilized both trend analysis and analysis of variance (ANOVA). The result of trend analysis revealed that average rental values in Wuse and Maitama exhibited upward and steady movement, showing a stable market and overlapping other areas. The result of analysis of variance revealed there is a statistically significant difference in rental values across the study area. Further analysis of HSD revealed that the bulk of rental difference can be found in Wuse and Maitama. The study concludes that the value of environmental amenity should be captured in the price of residential properties close to it. The study recommends that the government, developers and prospective investors should consider investing in residential property yPes specifically, two and three-bedroom as it promised good returns on capital invested