Post-Covid-19 Pandemic and the Emerging Rental Housing Market in Nigeria

Ikpeme Anthony Ankeli, Muhammad Bashar Nuhu, Jelili Saheed, Adenike Rukayat Akinremi, Abbey Anthony Tinufa

Abstract


The novel coronavirus (Covid-19) was first notice in Wuhan, China, the epicentre of the dreaded disease, in December 2019 but was declared a pandemic in 2020 by the World Health Organization (WHO). Its spread went beyond local and national boundaries to intercontinental levels. Attempt to curtail its further spread has led to measures as partial or total lockdown by nations, quarantine, work from home, social distancing, among others. These measures have, in one way or the other, adversely impacted businesses and other human activities across the globe. One of the worst-hit sectors by the pandemic is the built environment, in which the rental housing market is a subsector. Therefore, the paper evaluates post-Covid-19 pandemic and the emerging rental housing market in Osogbo, an emerging state capital in Nigeria. To achieve this, twenty-five top estate surveyors and valuers practising in Osogbo were randomly selected, and their opinions analysed and ranked. Findings of the study revealed that while the demand for residential rental accommodations is on the increase despite the outbreak of coronavirus pandemic, the demand for office and hospitality accommodations are fast declining due to the effect of the pandemic. The study, therefore, recommended the extension of people friendly palliative measures, proactive and sagacious policy formulation and implementation by the government.

Keywords: Post-Covid-19, Emerging Rental Housing, Housing Market, Nigeria

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Copyright (c) 2021 Ikpeme Anthony Ankeli, Muhammad Bashar Nuhu, Jelili Saheed, Adenike Rukayat Akinremi, Abbey Anthony Tinufa

Copyright CC BY © European Modern Studies Journal 2017-2021   ISSN 2522-9400

Лицензия Creative Commons


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