Determinants of Demand for Rental Accommodation in Ibadan: A Case Study of Ibadan North West Local Government

Abstract

This study investigates the determinants of demand for rental accommodation in Ibadan (a case study of Ibadan North West Local Government). The study employs a survey methodology where a questionnaire is used to generate data. A simple random sampling technique is employed to choose the sample used. A total of 200 respondents provided the information used in the study. Regression analysis is used to analyze the data. The results shows that among the variables considered, price of accommodation, income level of occupant, occupation of occupant, education of occupant, marital status of occupant and closeness to work place of occupant are all significant determinants of demand for rental accommodation while, facilities of accommodation, location of accommodation, household size of the occupant, and religion of occupant are all insignificantly related with demand for rental accommodation. The result shows that providers of rental accommodation should be more sensitive to the fact that income of occupant plays important role in the decision of demand for rental accommodation than the price of accommodation in Ibadan