Home»Estate Management» An examination of vacancy rate on some selected residential properties in Ombi 1 of Lafia metropolis

An examination of vacancy rate on some selected residential properties in Ombi 1 of Lafia metropolis

 Department: Estate Management  
 By: usericon Ayaka001  

 Project ID: 6985
   Rating:  (5.0) votes: 1
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This study critically examined vacancy rates on some selected residential properties in Ombi I of Lafia Metropolis. The design of this research was a descriptive survey research. The population for this study consists of landlords, property developers, and real estate professionals in Lafia metropolis. Simple random sampling technique was used to select the 100 respondents from the sample. The study used a semi-structured self-administered questionnaire to collect data from the respondents. The collected data were analyzed using simple statistical tools such as tables and percentages. The study deduced that the housing stock in Ombi 1 is very adequate and that the extent of vacancy and occupancy rates of property is on the positive side. The study further concluded that the real estate market with a high level of vacancy rate will lead to a low return on investment while the market with a higher occupancy rate will have a higher return on investments and vice versa. The study recommended among others that property investors should invest more in Ombi 1 real estate market since the market has a positive indicator of making higher return on investments as it exhibited a low vacancy rate and higher occupancy rate....
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