10 | https://doi.org/10.47836/AC.18.1.ARTICLE2 | Volume 18 (Issue 1) April 2025 RESEARCH ARTICLE Evaluation of the Short-Term Rental Housing Market in Nigeria Oyedeji, Joseph Oyewale 1* , Oyesomo, Clement Oyewole 2 , Ogunleye, Toyin Funmilayo 1 , Adedamola, Akinola Wasiu 3 , Oyedeji, Olajumoke Abiodun 4 , Ogunyinka, Margaret Abimbola 1 1 Department of Estate Management, Bells University of Technology, Nigeria. 2 Building and Real Estate Department, Hong Kong Polytechnic University 3 Chicago State University, United States of America 4 Nutrition and Dietetics, Bells University of Technology, Nigeria diranjosh@gmail.com Abstract Previous studies on short-term rentals can be categorized into effect of short-term rentals on housing market, short-term rental regulation and effect of externalities like COVID-19. The previous studies did not evaluate the performance of short- term rental housing market with its implication on the housing market. This study filled this gap by evaluating short-term rental housing market in Lagos, Nigeria. The study population for the study are the property managers managing short- term rental housing in the study area. Data for the study were gathered using questionnaires. The gathered data were analyzed using descriptive statistics. Findings from the study revealed that block of flat with a RII of 0.905 is most used property for short-term rentage. Also, the average rental value per night for all the classes of properties has grown over the past five years. Swimming pool is the facility that occupants have the highest preference for with a RII of 0.886. Conversion of residential properties to short-term rental housing is the most prevalent source of supply of short-term rental with a RII of 0.862. Investors are mostly motivated by high liquidity of short-term rentals among other investment motivators with a RII of 0.867. Finding revealed that short-term rental housing market are not regulated or enlisted in the study area. The study emphasized need to regulate short-term rental housing market to curb its negative effect on the housing market. Keywords: Evaluation, Short-term, rental, housing, market, Nigeria. Citation: Oyedeji, J. O., Oyesomo, C. O., Ogunleye, T. F., Adedamola, A. W., Oyedeji, O. A., & Ogunyinka, M. A. (2025). Evaluation of the short-term rental housing market in Nigeria. Alam Cipta, 18(1). https://doi.org/10.47836/AC.18.1.ARTICLE2 Received: 12 January 2024 Accepted: 10 December 2024 Published: 25 April 2025 Introduction The important role of accommodation to tourists and other recreational property users ranges from physical comfort to social and psychological comfort (Chen, Huang and Cheng, 2009). These users made different choices to achieve desired level of comfort. These choices have to do with; travel destination, mode of travelling, and accommodation (Hedlund, 2013). All these choices play important and unique roles but the importance of accommodation cannot be overemphasized. There are different types of accommodation available to recreational property users ranging from; hotels, resort, holiday homes and short- term rental accommodations. Different factors are considered when picking one of these types of accommodation. Previous Studies have established that a major tourist accommodation selection factor is “home-like atmosphere” (Ingram, 2002; Gunasekaran and Anandkumar, 2012; Khoo-Lattimore, Prayag, and Cheah, 2015). The type of accommodation that fits the “home like atmosphere” description is short-term rental housing. Furukawa and Onuki (2019) described short-term rental