Land Pricing Influencing Factors: Perception of Estate Surveyors and Property Developers

S. E. Agbato, O. O. Adetokunboh and A. K. Sodiya

AfRES from African Real Estate Society (AfRES)

Abstract: In the present day real estate market, price, in money, is seen as the commonly assented expression to indicate and compare land values – upon putting into consideration certain underlying variables that have been characterised as land pricing influencing factors. From the point of view of two notable real estate market players; estate surveyors and property developers, the study assessed the relative importance of the individual land pricing influencing factors in Nigeria. Adopting structured questionnaire and semi-structured interview to sample the opinion of selected Lagos-based estate surveyors and property developers, distinctive 43 influencing factors further classified into eleven typical groups were identified and assessed, and the overall analysis indicated that good (motorable) road, purchaser ability to pay, and prime location are the top-ranked influencing factors amongst other determinants influencing land price in Nigeria, while size, buyer’s preference and accessibility are the first three highest ranked group factors in the eleven categorised group factors.

Keywords: land price; Land Value; Nigeria (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2018-09-01
New Economics Papers: this item is included in nep-ure
References: Add references at CitEc
Citations:

Downloads: (external link)
https://afres.architexturez.net/doc/oai-afres-id-afres2018-106 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:afres2018_106

Access Statistics for this paper

More papers in AfRES from African Real Estate Society (AfRES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().