A Hedonic Model for Apartment Rentals in Ikeja Area of Lagos Metropolis

Simple item page
dc.contributor.authorBabawale, G. K.
dc.contributor.authorKoleoso, H. A.
dc.contributor.authorOtegbulu, C.A.
dc.date.accessioned2021-11-04T11:23:43Z
dc.date.available2021-11-04T11:23:43Z
dc.date.issued2012-09
dc.descriptionScholarly Articlesen_US
dc.description.abstractThe hedonic pricing model has been employed with a degree of success in housing market analysis in developed countries. This paper demonstrates the potentials of the same technique to the study of housing markets in a developing country like Nigeria. The paper used data from Ikeja area of Lagos state, Nigeria, to provide empirical evidence on market parameters that describe the hedonic price structure for apartments (flats) in a typical Nigerian city. Primary data were elicited through structured questionnaire, complemented with selective interviews and personal observations. The results revealed that number of bedrooms, condition of the property, availability of pipe-borne water, average size of bedrooms, and numbers of bath/toilets, in that order, are the main descriptors of apartment rentals in the study area. The results of this empirical investigation are of particular importance to investors, developers, financiers, and real estate valuers operating in the property sub-market under consideration. Among others, adequate knowledge of issues investigated and raised would assist developers to build to consumer tastes and preferences. The resulting model also provides an alternative to traditional valuation techniques and affords greater flexibility in accounting for sustainability in real estate valuation.en_US
dc.identifier.citationBabawale, G. K., Koleoso, H.A. and Otegbulu, C.A. (2012). A hedonic model for apartment rentals in Ikeja area of Lagos, Metropolis. Mediterranean Journal of Social Sciences, 3 (3), 109-120.en_US
dc.identifier.issn2039-2117
dc.identifier.otherDOI: 10.5901/mjss.2012.v3n3p109
dc.identifier.urihttps://www.researchgate.net/publication/288153689_A_Hedonic_Model_for_Apartment_Rentals_in_Ikeja_Area_of_Lagos_Metropolis
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/9686
dc.language.isoenen_US
dc.publisherMediterranean Center Of Social And Educational Researchen_US
dc.subjectApartment rentalsen_US
dc.subjectHedonic pricingen_US
dc.subjectNigeriaen_US
dc.subjectEconomic Modelsen_US
dc.subjectResearch Subject Categories::SOCIAL SCIENCES::Social sciencesen_US
dc.titleA Hedonic Model for Apartment Rentals in Ikeja Area of Lagos Metropolisen_US
dc.typeArticleen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
A Hedonic Model for Apartment Rentals in Ikeja Area of Lagos Metropolis.pdf
Size:
42.51 KB
Format:
Adobe Portable Document Format
Description:
Abstract
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Estate Management - Scholarly Publications