Urbanization is transforming cities worldwide, with rapid growth and expansion being particularly evident in Nigerian cities like Abuja. The introduction of transportation infrastructure is a significant factor influencing rent dynamics. This paper is aimed at understanding the evolving patterns of rent at transportation hubs such as train stations, using the Abuja-Kaduna railway line in Nigeria as a representative case.
Rental values of residential properties within a 3 km radius of the station before, during and after construction (between 2005 and 2023) were obtained from estate surveyors and valuers, who are property managers in Nigeria. Least squares regression and analysis of growth rate were used to analyze the data obtained.
It was found that the construction and operation of the Kubwa Train Station have led to substantial increases in the rental values of residential properties within its vicinity. Also, transportation infrastructure like rail stations leads to an increase in rental value.
The study advises policymakers and urban planners to give precedence to investments in sustainable transportation infrastructure. Also, property investors are encouraged to invest along rail lines, as it enhances property value.
Previous studies on the dynamics of residential property values along rail lines are limited in developing countries. Hence, this study provides a broad perspective on the dynamics of rental values along rail lines.
