Housing-Related Attributes and the Changing Structure of Preferences

Housing-related attributes of residential properties form influential factors of house consumers' preferences. This study empirically assessed the housing-related attributes (and sizes of attributes) required by tenants in five residential properties categories in Ede, Nigeria, with a view to providing information on consumer preferences that could aid investment decision. The objectives of this study were to analyse the housing-related attributes (and sizes of attributes) currently available in residential properties and assess the preference hierarchy for housing-related attributes (and larger sizes of attributes) among tenants. A survey was conducted to collect the required data directly from a sample of 400 tenants in the study area using multistage and purposive sampling. A total of two hundred and seventy-eight (278) questionnaire were returned, representing a 69.5% response rate. The data collected included tenants' preferences for larger sizes of living room, bedroom, and kitchen among others relative to the current sizes of such facilities in their respective residential properties. Data collected were analysed using descriptive statistical tools (percentile, mean and relative importance index). The results revealed that larger bedroom, a larger kitchen, larger storage room, fully tiled floor and perimeter fence were the five top prioritised housing-related attributes across all residential property categories, although with varying indices. The results further showed that on the overall, tenants held that perimeter fence, fully tiled floor, all en suite bedroom, larger bedroom, a larger kitchen, larger storage room and private backyard were very important in their hierarchy of preferences. On the other hand, larger dining was said to be slightly important. The study provided primary information regarding tenants' expectation toward housing-related attributes in the residential properties in Ede, Nigeria. The result can be a useful guide to stakeholders in the real estate development sector when designing different categories of residential property to suit the changing preferences of residential tenants