Prediction of Property Value in South-South Nigeria Using Key Socio-Economic Factors

Increasing demand for the correct prediction of property values necessitated this study on the socio-economic factors that affect property value in the South –South region of Nigeria. e study relied primarily on market data covering a period of 10 years from 2016 – 2025 in the six States of the region. e data obtained were analysed using Pearson's moment correlation coefficient, simple and multiple regression analysis. As standalone factors, cost of construction was found to be a signicant predictor of property value with β = 2.995, t(8) = 28.02, p < .05 and accounting for 99% (R = .99) of the variance in property value scores. Ination rate recorded β = .89, t(8) = 5.39, p < .05 and accounting for 78% of the variance while interest rate had β = .82, t(8) = 3.98, p < .05 and accounting for 66% of the variance. As combined factors, the variance was found to be 81.8% while p-value was 0.012 < 0.05 which means that property value to a very appreciable degree is a function of these factors and are correctly predicted from them. e study consequently developed a model: Ŷ = prop value 2563956.494 + 473756.180 + 355970.176 + -82731.482 and ina GDP inter recommends its use for prediction of property value.