An Analysis of the Implication of Land Speculation Activities on Land Affordability in the Urban Fringe Area of Lagos State, Nigeria

Simple item page
dc.contributor.authorThontteh, E. O.
dc.contributor.authorOmirin, M. M.
dc.contributor.authorOlanrele, O. O.
dc.date.accessioned2019-09-16T10:41:51Z
dc.date.available2019-09-16T10:41:51Z
dc.date.issued2017-09-13
dc.description.abstractPurpose – While affordability studies have centred on house possession through either mortgage repayment or household ability to pay rent in the developed countries, land affordability has remained a topical issue in the third world countries and emerging economy with consequential effect on the economic growth. The purpose of this paper is to examine the activities of the real estate developers as touching the capability and ability of the first time buyers to pay for a plot of land towards actualising their home ownership dream. Design/Methodology – The study adopted a quantitative paradigm of research method. A questionnaire survey was carried out with members of the Real Estate Developers Association (REDAN) and household heads in Lagos urban fringe as stakeholders. The Income structure of the civil/public service was also collected. The study employed the use of Land Affordability Index relative to Affordable Limit to determine buyer’s affordability. Findings – The study finds a speculative motive in the activities of developers rather than solving housing supply problem resulting in non-affordability of land to the end user or first home dreamers. 77.8% of the developers’ affirmed they subdivide within two years of land purchase for the purpose of resale to the end users and further land retailers. However, other factors such as increase in demand for land, change in income, scarcity of developable land was also found to have impacted on the ease of land affordability. Practical Implications – The study revealed that the solution to the lingering housing Problem in Nigeria with over 16 million unit deficit, will not come from private developers if the activities of the developers continue unabated. Originality/Value of Work – The paper in addition to its contribution to literature, is the first to study land affordability in developing/third world context especially where there is inefficient mortgage system for home ownership, making individuals to acquire land and build their houses.en_US
dc.description.sponsorshipUniversity of Lagos Conference granten_US
dc.identifier.citationAn Analysis of the Implication of Land Speculation Activities on Land Affordability in the Urban Fringe Area of Lagos State, Nigeria. The 17th African Real Estate Society (AfRES) Annual Conference, Hyaat Regency, Johannesburg, 12th – 15th September, 2017en_US
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/5536
dc.language.isoenen_US
dc.publisherAfRES- African Real Estate Societyen_US
dc.subjectAffordable Limiten_US
dc.subjectLand Affordabilityen_US
dc.subjectSpeculationen_US
dc.subjectUrban Fringeen_US
dc.subjectResearch Subject Categories::SOCIAL SCIENCESen_US
dc.titleAn Analysis of the Implication of Land Speculation Activities on Land Affordability in the Urban Fringe Area of Lagos State, Nigeriaen_US
dc.typePresentationen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
An Analysis of the Implication of Land Speculation Activities on Land Affordability in the Urban Fringe Area of Lagos State.docx
Size:
214.38 KB
Format:
Microsoft Word XML
Description:
RESEARCH PAPER
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Estate Management - Conference Papers