GIS-AHP BASED SUITABILITY MODEL FOR COMMERCIAL PROPERTY INVESTMENT IN BIDA, NIGERIA

Abstract

Geographic Information System (GIS) benefits have been continuously discovered by estate surveyors and valuers. Despite several attempts at adopting GIS in real estate decision-making, there is a significant gap in terms of commercial property investment decisions, particularly commercial property investment. This research applied GIS to commercial property investment decisions in Bida, Nigeria. Data were mainly collected from primary sources. The entire Bida town built-up area was considered for the study. The commercial rental data for the study area was based on the 2014–2023 collected occupants of commercial rental properties in the study area. Using the street map, the study area was divided into 214 different submarkets. Across the submarkets, a total of 340 blocks of commercial properties, including 284 blocks of shops, 11 office blocks, and 45 combination shops and office blocks, were sampled. Some basic Key Performance Indicators (KPIs) were used as a measuring criterion for commercial properties in the study area, which are occupancy rate, rent index, tenant turnover, rental growth rate, eviction rate, and lease renewal. The collected data were analyzed using the hotspot spatial analytical technique and the analytical hierarchy process (AHP) in a GIS environment. The study generated a suitability map for commercial property investment. The findings of the study indicate that the closer a location is to the city centre, the more suitable it is for commercial property investments in the study area, and the farther from the city centre, the less suitable it is for commercial property investments in the study area. This research recommends that estate surveyors and valuers adopt GIS to aid their decisions in commercial property investment.