Abstract
The research delves into the multifaceted relationship between inflation and residential rental values in urban areas. The study focuses on Benin-City, a dynamic urban center in Nigeria, to explore how changing inflation rates have influenced the rental landscape over time. Through extensive data analysis, this research aims to shed light on the trends, implications, and factors that underpin the interplay between inflation and rental values. The study begins examining the historical trends in residential rental values for different types of properties and across various urban areas in Benin-City. It identifies patterns of rental vale growth and investigates whether these patterns align with inflationary periods. In addition to assessing trends, the research investigates the types and causes of inflation in the local context. It also scrutinizes the factors contributing to inflation within the Nigerian economic framework, recognizing that inflation is a complex phenomenon influenced by a myriad of economic, political, and global factors.
Furthermore, this study explores how inflation affects property values, both in terms of rent and overall property prices. It examines the strategies employed by property owners and landlords in response to inflation, including the adjustment of rental rates. This analysis seeks to uncover the extent to which residential properties serve as hedges against inflation within the study area.
The findings of this research are of significant relevance to property investors, policymakers, real estate professionals, and tenants in Benin-City. They provide insights into the dynamics of the local rental market and how inflation can impact housing affordability and property investment decisions. The study also contributes to the growing body of knowledge on the relationship between inflation and property values in a developing urban context.
In a nutshell, the research advances our understanding of how inflationary forces shape the residential rental landscape in urban areas and provides a basis for informed decision-making within the real estate sector.
