The Impact of Rental Values on Real Estate Commercial Properties in Port Harcourt

Stanley Chika Nwaogu, Charles .O. Esiovwa and Christopher .O. Esiovwa
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Stanley Chika Nwaogu: Department of Estate Management, University of Nigeria, Enugu Campus, Enugu, Nigeria
Charles .O. Esiovwa: Delta Development and Property Authority, Asaba, Nigeria
Christopher .O. Esiovwa: Department of Estate Management, Bells University of Techonology, Ota, Ogun State, Nigeria

International Journal of Research and Innovation in Social Science, 2021, vol. 05, issue 08, 636-642

Abstract: The study of performance of real estate investment, whether residential or commercial, is very important at this time when emphasis is on investment performance analysis in many parts of the world. This is important in Nigeria due to the impact of the ongoing changes in the global and local economy on the performance of commercial properties which requires careful consideration in investment decision making process. In order to increasing the confidence of major key players in real estate investment, this study examined the impact of rental values on real estate commercial properties in Port Harcourt. There are about 1,124 commercial properties in Port Harcourt obtained from GIS. Systematic random sampling approach and descriptive statistics was adopted. The research tools used are weighted mean, coefficient of variation, rental index and ANOVA. The study revealed that rent review pattern for investment properties in the study area is 3 years; with average rental growth rate that follows a similar trend and pattern and the implication of these is that, investment on commercial properties are likely to generate higher returns. However; the study recommends that proper maintenance and management by real estate professionals can sustain consistency in the trend and pattern of investment return

Date: 2021
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