Assessment of The Trend of Rental Returns on Private Hostel Investment in Neighbourhoods of Public Tertiary Institutions in Anambra State (2011-2022) (Published)
The increasing number of students in public tertiary institutions in Anambra state has prompted serious accommodation problems and on-campus hostels can no longer cope with the attendant demand. The high rate of demand for housing by students led to the development of private accommodation known as hostels or lodges around these institutions of higher learning. Establishment of private hostels requires huge capital outlay; hence, investors need to have a fair idea of returns from such investment before committing their resources. This research aims to assess the trend of rental returns from private hostels investment in selected neighbourhoods of public tertiary institutions in Anambra state from 2011 – 2022. The study adopts stratified sampling technique that represents the entire population. Data for the study were elicited Estate Surveyors and Valuers practicing in Anambra state through the use of structured questionnaire, and analyzed using tables, graphs and trend analysis. The study indicated that the trend of rental returns of private hostels shows a steady increase in all locations over the study period. The study recommends that intending investors should consult real estate professionals for investment advice before delving into hostel property development, and they should also consider public private partnership (PPP) contractual arrangements such as Design Build Operate and Transfer (DBOT) in hostel development.