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n Institute of African Studies Research Review - Residential land values and their determinants in high density neighbourhoods of metropolitan Lagos

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Abstract

The study examines land values in high density residential neighbourhoods in Metropolitan Lagos. A total of 215 residential neighbourhoods were identified in Lagos made up of 184, 20 and 11 high, medium and low density neighbourhoods respectively. 27 residential neighbourhoods in the high density class were sampled with questionnaire administration. Three estate surveyors each from each neighbourhood were also asked about the values of residential land uses, which was used to present the result across the study area. Data used for the correlation analysis were those derived from 27 residential neighbourhoods. The study identified that residential segregation exists in Nigerian cities and the study area. Among urbanization and residential land use problems identified by the study are poor level of social and technical infrastructure, poor land and city management system capacity, paucity of planning laws, funding, poor institutional frameworks and political interference. Also, the findings reveal that there are strong relationships between the residential land value variables employed in the analysis namely rent, cost of purchase of apartment and cost of a plot of land, with the following correlation figures: 0.937 for the relationship between cost of residential apartment unit and rent, cost of a plot of land and rent (0.907), cost of land and apartment unit (0.855). The study also reveals that five categories of cost of rents exist in the study area, while six categories of cost of outright purchase of apartment exist; that of cost of the prices of a plot of land are classified into seven. Infrastructural facilities and economic variables were identified as the two major factors influencing residential land values in the study area, thus there is need to give high priority to these two variables.

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/content/inafstud/21/2/EJC45962
2005-01-01
2016-12-03
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