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Office Rental Dynamics in Minna, Nigeria

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dc.contributor.author Udoekanem, N.B.
dc.contributor.author Ighalo, J.I.
dc.contributor.author Nuhu, M.B.
dc.date.accessioned 2015-09-01T05:57:29Z
dc.date.available 2015-09-01T05:57:29Z
dc.date.issued 2015-09-01T05:57:29Z
dc.identifier.citation Udoekanem, N.B., Ighalo, J.I., & Nuhu, M.B. (2015). Office Rental Dynamics in Minna, Nigeria. Sri Lankan Journal of Real Estate, 08, 16-30.
dc.identifier.uri http://dr.lib.sjp.ac.lk/handle/123456789/1896
dc.description.abstract This study explored the dynamics of office rents in Minna, Nigeria. Data for the study were obtained from primary and secondary sources. Primary data for the study were obtained from estate surveying and valuation firms which are active in the commercial property market in the city through field survey and comprise rental values of thirty-six office properties in the city for the period, 2001-2012. The secondary data for the study include data on macroeconomic variables in Nigeria for the same period and were obtained from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Results of data analysis revealed that the rental growth factor for office properties in Minna for the period, 2001-2012 is 1.056, representing an average rental growth rate of 5.6% for the study period. Also, 83% of the variation in office property rents in the commercial property market in the city is explained by the office rent model developed for the city. The study concludes that real GDP growth and vacancy rates are the major drivers of office rental change in the commercial property market in Minna. en_US
dc.language.iso en en_US
dc.subject Office Properties en_US
dc.subject Rental Growth en_US
dc.subject Property Market en_US
dc.subject Minna en_US
dc.title Office Rental Dynamics in Minna, Nigeria en_US
dc.type Article en_US
dc.date.published 2015

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