Impact of Residential Mobility on Commercial Real Estate Investment Decision in Minna, Niger State Nigeria

Abstract

This research explores the influence of residential mobility on commercial real estate investment decisions in Minna, Niger State, Nigeria. Residential mobility, reflecting the frequency and patterns of household relocations, significantly affects the dynamics of urban environments and, consequently, commercial real estate markets. The study employed a qualitative approach with selection of ten stakeholders in the real estate development and property market in Minna. Data were collective via semi-structured interview centred on four research questions towards achieving the research objective. The collected data were analysed with the aid of thematic content analysis. The findings indicate that high residential mobility in certain neighbourhoods like Bosso, Fadikpe and Maitumbi correlates with increased commercial real estate activity, driven by the demand for retail shops, office, and service-oriented spaces catering to a transient population. Conversely, areas with low residential mobility like Barikin Sale and Sauka Kahuta exhibits slower commercial development, often due to a stable but limited consumer base. Stability and risk management, opportunity and growth potential, and demographic influence on investment decisions are the elements of residential mobility indicating investment in commercial property development in the study area. The study concludes that decision to invest in commercial real estate is indeed influenced by residential mobility; though in relation to other outlying factors like finances, demand for commercial properties and economic prospects among other. Stakeholders and investors in the commercial real estate are recommended to always conduct in-depth market research, concentrate on stable neighbourhoods, make use of demographic information, keep an eye on urban and economic growth, and interact with local stakeholders in a bid to make more informed and strategic decisions that align with both global trends and local realities.