Correlation between Infrastructure Development and Land Values: A Case Study of Ogun State Property Investment Company Estate, Isheri, Ogun State

O. Folarin

AfRES from African Real Estate Society (AfRES)

Abstract: The purpose of this research was to ascertain the correlation between infrastructure development and land values within the study area. The land values for ten years period was used for the research study. The descriptive research that was employed was the quantitative design method. A sample size of one hundred and fifty - four (154) respondents of the Ogun State Property Investment Company (OPIC) was employed which included; employees, residents of the estates, property brokers and others. Analysis of data was by the use of percentages, frequencies, mean score, rank correlation and Pearson’s correlation coefficient. From the analysis it showed that infrastructure had improved within the last ten years. Furthermore results showed that the state of infrastructure within the study area was most improved in the year 2013 and also ranked the highest in the level of infrastructure development. The research findings revealed that the development of the roads did have a positive impact by increasing land values. This study hereby recommends that the Government should further invest and improve the level of infrastructure as it would be beneficial to the economy at large.

Keywords: Development; Infrastructure; Land Values; Roads and Drainages (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-tre and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:afres2018_149

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