CHALLENGES AND IMPACTS OF AIRBNB DEVELOPMENT IN ABUJA’S RESIDENTIAL PROPERTY MARKET

The emergence of Airbnb has reshaped the dynamics of real estate development in Abuja, Nigeria, creating new opportunities while introducing several challenges and mixed impacts. Hence, this study examines both the positive and negative impacts of Airbnb on the city’s residential property market. A descriptive survey design was employed, targeting 217 registered estate firms and property developers within the Federal Capital Territory. The findings reveal that Airbnb has contributed positively by increasing the demand for short-term rentals, influencing modern property designs, and stimulating investment in emerging neighborhoods. However, the platform has also led to rising housing costs, displacement of long-term tenants, and growing concerns over regulatory loopholes, safety, and unfair market competition. The study concluded that while Airbnb offers substantial benefits to the real estate sector, its sustainable integration requires balanced policies and proactive regulation. To address these issues, the study recommends the introduction of clear legal frameworks for short-term rentals, improved tax enforcement, protection of long-term rental housing stock, and inclusive urban planning that prioritizes affordability and community well-being.