Factors Influencing Residential Property Rent Keffi: Relative Importance Index Approach

Abstract

Housing commercialization and the deepening of urbanization in Keffi, residential property rent is having an increasing influence on the study area, and therefore indirectly affecting urban growth. As numerous factors of an urban residential property directly affect its rent, the study of this connection has significance on the location. To help tenants and other stakeholders make decisions, this study looked at a few factors that affect residential property rent in Keffi, Nasarawa, Nigeria. 10 estate surveying and valuation firms in the study area and 67 tenants were asked to provide their perceptions using a cross-sectional survey and a structured questionnaire. Descriptive statistics from the Relative Important Index (RII) were used to analyze the data. The results show diversity in the outcome, with nine factors impacting the rent of residential property price: security, location, and bedroom proof to be ranked 1^st, 2^nd, and 3^rd, while green open space ranked least. The inclusion of security in residential property rent would be justified by this information. This observed difference in factors suggests that to prevent mistakes in investment decisions, property stakeholders should be careful and specific when choosing the most relevant influencing elements.