Analysis of Residential Property Rental Values and Demographic Trends in Abaji City, F.C.T Nigeria

Abstract

This paper examined the residential property rental values and demographic trends of Abaji City in order to uncover the housing market dynamics in Abaji area council. The rental values were obtained with the aid of questionnaire from ten ‘Care takers’ (Estate agents) for the period of 2003 – 2013. While, population data was obtained from National Population Census and National Bureau of Statistics archives. The data collected were analyzed using trend analysis with simple linear regression models of Microsoft Excel and population projection and growth rate matrix. The study findings revealed an exponential increase in the residential rental values over the years. Also, it revealed the potential investment opportunity in the residential sector of the study area. This study therefore, recommends among others that the local planning authority of the Abaji area council should be more proactive about development control so as to curb urban sprawl as the area is a potential destination for real estate investors and developers.