COMPARATIVE ANALYSIS OF FACTORS INFLUENCING RENTAL VALUES IN PUBLIC AND PRIVATE HOUSING ESTATES IN IBADAN, NIGERIA

Abstract

Housing is a basic need of man but it is so expensive to build. This explains why those who cannot buy or build outright will prefer to rent. In Nigeria, the rental sector is dominated by players from both public and private sector. The study sampled 40 Estate Surveyors and Valuers in Ibadan who had knowledge of rental market. The findings revealed that Public housing rental values are constrained by the target population’s income and by infrastructure deficits, while private housing markets capitalize on the added value of premium amenities and locational advantages. These results align with earlier studies in Nigeria that emphasize the dominance of affordability factors in public estates and hedonic attributes in private estates.