Determinants of Real Estate Investment Choices in Neighbourhoods proximate to Peter Odili Road, Port Harcourt, Rivers State, Nigeria
This study investigates the factors influencing real estate investment decisions in neighbourhoods proximate to Peter Odili Road in Port Harcourt, Nigeria. The aim is to improve understanding of the drivers behind investment choices in an urban area. Structured Questionnaires were utilized in collecting data from a sample of 367 respondents through structured questionnaires and interviews with real estate professionals. The research focused on approximately 4,400 residential properties and analyzed responses from 353 participants, achieving a high response rate of 96.18%. The findings identified seven primary types of residential properties, with blocks of flats (21.24%) being the most common, followed by detached houses and mansions, which are favored by middle- to high-income residents. Residential properties emerged as the top investment choice, influenced by factors such as neighborhood quality, security, and property appreciation. Security was ranked the most significant factor (RII = 0.89), followed closely by infrastructure and neighborhood quality (both RII = 0.88), which collectively enhance investor confidence. The study highlights neighbouurhoods proximate to Peter Odili Road as a prime location for residential property investment in Port Harcourt, attracting interest from both local and expatriate investors. Recommendations include a balanced approach to housing development, improved security and infrastructure, and strict enforcement of zoning regulations. These measures aim to sustain property values, maintain neighborhood quality, and attract a diverse array of investors. The findings provide valuable insights for policymakers, developers, and real estate practitioners seeking to cultivate a stable and growing real estate market in Rivers State.
Keywords: Determinants, Real Estate, Investment Choices, Investors, Port Harcourt,
