SMART CITY TECHNOLOGIES AND REAL ESTATE PRICINGS IN ABUJA, NIGERIA: A HEDONIC PRICING APPROACH

Purpose: Limited empirical evidence exists on the effects of smart technologies on property values in African cities. This study investigates how smart city initiatives influence real estate development and property pricing in Abuja, Nigeria’s Federal Capital Territory, using a hedonic pricing regression model.

Design/methodology/approach: To achieve this aim, using a hedonic pricing regression model. The analysis utilized 1,247 property transactions and associated market data from 2020–2024. Primary data were obtained from consultations with Abuja Geographic Information Systems (AGIS) officials and real estate developers, while secondary data were sourced from major Nigerian property portals. Key smart city indicators including smart building features, digital connectivity, and proximity to technology-driven urban projects were incorporated into the model.

Findings: Findings show that smart city attributes affect property values: properties with smart features command higher prices, areas with stronger digital connectivity appreciate faster, and proximity to major smart city projects is linked to increased market values. The findings highlight how smart city technologies enhance property values and urban competitiveness. Improvements in Abuja’s global smart city ranking aligned with positive shifts in residential pricing.

Research limitations/Implications: The study is mostly based on official property transaction data that may not capture Abuja's informal or off-market dealings, resulting in potential market representation bias. The smart city indicators employed were limited to what was locally published between 2020 and 2024, which excluded dimensions like IoT systems and environmental sensors. study is one of the first empirical evaluations of how smart city projects affect property values in Abuja and Nigeria as a whole. It provides data-driven evidence that links advances in smart city development to demonstrable changes in residential property prices.

Practical implications: The developers should add energy-efficient, secure, and interconnected smart technologies to residential and commercial projects for real value premiums. Consider grouping developments near technologically advanced facilities to increase sales appeal and urban efficiency.

Originality/value: The study provides empirical evidence on how smart city efforts effect real estate development and property values in an African context, specifically Abuja, Nigeria.