Residential Land Values Determinants in Onitsha, Nigeria

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Date
2018-06-24
Authors
Ilechukwu, V.U
Salau, T.I
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Building, University of Lagos
Abstract
Among the many determinants of city development, land value is a major factor. The past urban economics studies have shown that land value is largely determined by location factors such as distance from Central Business District (CBD) to the exclusion of non-location factors like time of purchase and neighbourhood infrastructures. Therefore, this paper attempts to establish the relative importance of location and non-location factors in the determination of residential land value by positing Onitsha, Nigeria 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 step wise regression analysis results showed that non-location factors, especially, time of land purchase, contribute more to the variation in residential land values. The paper suggests the revision of the classical economic theories to represent the conditions of urban areas in developing countries
Description
Staff publications
Keywords
Location factors , Non-location factors , Nigeria , Onitsha , Residential land value , Research Subject Categories::FORESTRY, AGRICULTURAL SCIENCES and LANDSCAPE PLANNING
Citation
Ilechukwu V.U and Salau T.I (2018). Residential land value determinants in Onitsha, Nigeria. Construction Research Journal, 5(1), Department of Building, faculty of Environmental Sciences, University of Lagos: 64 – 75.