Year: 2025
Type: article
Study design: Observational Study
Abstract: Previous studies on short-term rentals can be categorized into effect of short-term rentals on housing market, short-term rental regulation and effect of externalities like COVID-19.The previous studies did not evaluate the performance of shortterm rental housing market with its implication on the housing market.This study filled this gap by evaluating short-term rental housing market in Lagos, Nigeria.The study population for the study are the property managers managing shortterm rental housing in the study area.Data for the study were gathered using questionnaires.The gathered data were analyzed using descriptive statistics.Findings from the study revealed that block of flat with a RII of 0.905 is most used property for short-term rentage.Also, the average rental value per night for all the classes of properties has grown over the past five years.Swimming pool is the facility that occupants have the highest preference for with a RII of 0.886.Conversion of residential properties to short-term rental housing is the most prevalent source of supply of short-term rental with a RII of 0.862.Investors are mostly motivated by high liquidity of short-term rentals among other investment motivators with a RII of 0.867.Finding revealed that short-term rental housing market are not regulated or enlisted in the study area.The study emphasized need to regulate short-term rental housing market to curb its negative effect on the housing market.
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4409454850