Urban and Regional Planning-Scholarly Publications

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Browsing Urban and Regional Planning-Scholarly Publications by Subject "Central Business District"

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    Open Access
    A Paradigm Shift in Urban Economic Theories: The re-examination of Land and Housing values Determinants in African Cities
    (Clarion University of Pennsylvania, Clarion, Pennsylvania, 2018-09-25) Ilechukwu, Victor; Ilechukwu, V.
    ABSTRACT The past urban economic studies have shown that land and housing values are largely determined by location factors such as distance from Central Business District (CBD), ignoring the non-location factors like time of land purchase, zoning policy, housing quality and neighbourhood infrastructures. Therefore, this paper examined the relative importance of location and non-location factors in the determination of willingness to pay for sustainable land and housing values, by posting Onitsha, an African city as a case study. Eight hundred and fifty residential housing units were selected and questionnaire administered to the landlords through multi-stage sampling technique. The regression analysis results showed that nonlocation factors, especially, time of land purchase (R2 = 0.478, p < 0.05) and number of rooms (R2 = 0.325, p < 0.05) were more important determinants of land and housing values than the location factors. Also, Land and housing values increased with distance from the CBD because of the effects of non-location factors. Therefore, the paper suggested the need to include non- location factors in the revision of the urban economic theories for better understanding of residential land and housing values determinants in support of sustainable development.