Assessment of the Variations in Residential Rental Values in Rantya-Gyel Jos, Plateau State, Nigeria

Abstract

This study has investigated the changing residential rental values in Rantya-Gyel from 2009 to 2019. The main objective was to determine the extent and trend of changes in residential rental values of different categories of accommodation. The study hypothesised that residential rental values have witnessed significant increases, that the increases were demand-driven; and that the type of accommodation demanded by tenants was influenced by their demographic and socio-economic status. Questionnaire-based interviews and direct field observation were used to elicit information from landlords, property agents and tenants. The Statistical Package for Social Sciences (SPSS 17) software package was employed in analysing rent values, socio-demographic characteristics of tenants and types of accommodation. The chi-square and analysis of variance (F-ratio) techniques were employed in testing the hypotheses. The study found that the rent of different categories of accommodation had gone up by more than three-fold and most of the tenants (Christians) came from Jos north. Rental values doubled during the said period of investigation, housing types were mostly 2-bedroom flats and occupation/income was significantly related to accommodation. Demand and supply factors, as well as market forces, were identified as reasons why rental values in Rantya-Gyel tended to appreciate from 2009 to 2019. The study therefore recommends that the government should formulate policies and put in place strategies that increase the supply of housing in Rantya-Gyel and enhance integration.