REAL PROPERTY INVESTMENT IN NIGERIA CITIES: REVIEW OF FACTORS AFFECTING RESIDENTIAL PROPERTY VALUE

Abstract

Property investment may take a form of either a monetary investment or a real investment (the creation of new assets). Financial investment in real property involves the acquisition of land, buildings, and related properties to derive rentals or other annual income from them. The study aimed to examine the factors influencing residential property investment in Nigerian cities in which the objectives include: To identify factors influencing residential property values in Nigerian cities. To examine factors to be consider in determining residential property values. A secondary source of data was employed. The study revealed that One bedroom, two bedrooms, three bedrooms, and Four Bedrooms Flat, Duplex and Tenement Building are major types of residential properties offered for investment in most Nigeria cities, changes in population, general prosperity, competitiveness and profitability of occupants, location, government policy, architectural design and finishes, amenities and environmental factors are among the major factors influencing residential property value in most of the Nigerian cities, and the corresponding recommendation amongst other are Estate Surveyors and Valuers should consider the different factors in determining the residential property valuers as different factors have both positive and negative impact on the investment value of the properties.