The Impact of Rail Transport Infrastructure on Residential Property Rental Values in Kubwa, Abuja, Nigeria

Abstract

On a global scale, numerous research studies have been embarked upon to show the level of relationship between transport facilities and residential rental values. This study dwelt on the various aspects of rail infrastructure and how it impacts on residential rental values. To accomplish the aim, questionnaires were distributed to head of households and practicing Estate Surveyors and Valuers in Kubwa, Nigeria. Physical observation also aided the researcher in data gathering. Data were interpreted using tables and percentage while Karl Pearson product moment correlation with the aid of Statistical Package for Social Sciences was employed for data analysis. From the correlation analysis the result revealed that the value of r (Pearson correlation) is 0.751 which indicates strong relationship. The p-value (.001) was less than 0.05 significant level. It was confirmed that the rail transport infrastructure has significant impact on residential rental values in Kubwa, Abuja. This translates to growth in rental values. The study recommended government initiatives on the rail system which directly increases the quantity of optimum rail lines of high-frequency metro lines resulting to a substantial increase in real estate values. This study has provided firsthand information and guide for property investors, estate surveyors, built environment professionals as well as government agencies on the importance of rail infrastructure and the various ways it can positively or negatively affect rental values.