The effect of negative information on the volatility of real estate residential prices in Abuja, Nigeria
Ibrahim Sipan and
Muhammad Najib Razali
International Journal of Housing Markets and Analysis, 2019, vol. 13, issue 2, 267-280
Purpose - The purpose of this paper is to determine the effect of negative information on the volatility of real estate residential prices in Abuja, Nigeria. Design/methodology/approach - The empirical research covers a sample period of 17?years from the first quarter of 2000 to the fourth quarter of 2017. The leverage effect of Abuja’s real estate residential price volatility is determined. Exponential generalised autoregressive conditional heteroscedasticity is used to determine the ARCH shock, GARCH persistence and the leverage effect of the volatility of residential prices in Abuja. Findings - The research found that the volatility of real estate prices varies from one category of residential property to another. The leverage effect was found only in the price of two and three bedroom flats in Abuja. Originality/value - The findings provide useful information on the volatility of real estate prices for real estate investors. The study has policy implications for the regulation of measures that gradually checkmate the patterns of volatility in the Nigerian real estate market. It also controls negative information (such as a fall of crude oil prices, high costs of building materials, inconsistency of macro-economic policies and insecurity and political uncertainty) which mainly raises the level of uncertainty in the market and exposes investors to risk.
Keywords: Nigeria; Volatility; Housing prices; Residential property; Real estate; Effect (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.emeraldinsight.com/10.1108/IJHMA-03-201 ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-03-2019-0036
Ordering information: This journal article can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
Access Statistics for this article
International Journal of Housing Markets and Analysis is currently edited by Professor Richard Reed
More articles in International Journal of Housing Markets and Analysis from Emerald Group Publishing
Bibliographic data for series maintained by Jade Turvey ().