Alkali, M. A. and Sipan, I. A. B. and Razali, M. N. (2019) The impact of macroeconomic variables on real estate price forecasting modelling in abuja Nigeria. International Journal of Engineering and Advanced Technology, 8 (5C). pp. 67-72. ISSN 2249-8958
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Official URL: https://dx.doi.org/10.35940/ijeat.E1009.0585C19
Abstract
This paper examined the impact of macroeconomic variables on real estate price forecasting modelling in Abuja, Nigeria using the family of Box-Jenkins ARIMA models. The ARIMA and ARIMAX models were used to forecast real estate residential price in Abuja, Nigeria using quarterly data from 2000Q1 to 2017Q in Naira (N). The outcome revealed that, macroeconomic variables such as consumer price index, price of crude oil, exchange rate of Naira against US dollar, GDP, interest rate, household income has significant positive impact on the real estate residential price forecasting models of 2 bedroom flat, 3 bedroom flat and 5 bedroom flat, while they have strong negative impact on the price forecasting model of 4 bedroom flat. Moreover, ARIMA and ARIMAX provides best out of sample forecasting models.
| Item Type: | Article |
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| Uncontrolled Keywords: | ARIMAX, forecasting models, macroeconomic variables |
| Subjects: | H Social Sciences > HT Communities. Classes. Races |
| Divisions: | Built Environment |
| ID Code: | 89944 |
| Deposited By: | Narimah Nawil |
| Deposited On: | 29 Mar 2021 00:51 |
| Last Modified: | 29 Mar 2021 00:51 |
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