EFFECTS OF HOUSING CONDITION ON RENTAL VALUES OF RESIDENTIAL PROPERTIES IN KADUNA METROPOLIS, NIGERIA

Purpose: A neighbourhood’s housing environment encompasses the social services and utilities that make a community liveable. Because housing quality significantly affects both environments and their populations, it is vital to understand its drivers and measurement metrics. This study aims to assess the effects of housing quality on the rental values of residential properties in the Malali area of Kaduna Metropolis.

Design/methodology/approach: The study adopted quantitative research approaches and survey strategy because of the nature of the research questions with a sample size of 277. Structured questionnaires were distributed to the respondents. The data was analysed using mean ranking, frequency distribution tables and multiple regression analysis.

Findings: The result revealed that, the average (Mean) rent paid in different types of rented residential properties in Malali area of Kaduna metropolis, Nigeria, stands for flat ₦436,093, bungalow ₦547,043 and tenement ₦116,083.

Research limitations/Implication: This study was limited to two categories of independent variables Housing Physical Condition and Housing Non-Physical Condition within the Malali area of Kaduna. The regression model achieved an R² of approximately 64.26%, indicating that these independent variables collectively account for a significant proportion of the total variation in rental values.

Practical implication: The study recommends that property owners/developers should continue to prioritise regular maintenance and timely repairs of fundamental property elements, as this ensures tenant satisfaction, increases turnover, and protects property value over time and to strategically invest in upgrading and maintaining flooring and ceilings to enhance interior aesthetics, boost perceived quality, and increase the desirability and potential rental value of their properties.

Originality/value: Property owners/developers should continue to prioritise regular maintenance and timely repairs of fundamental property elements, as this ensures tenant satisfaction, increases turnover, and protects property value over time.