Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria

Oyedeji Joseph Oyewale ()
Additional contact information
Oyedeji Joseph Oyewale: Estate Management Department, Bells University of Technology, Ota, Nigeria

Baltic Journal of Real Estate Economics and Construction Management, 2022, vol. 10, issue 1, 26-40

Abstract: Land speculation is a form of investment for future gain in form of appreciation in land value. Previous studies on land speculation have failed to examine the operations of land speculators but rather focused on negative impact of land speculation. This study fills this gap by evaluating the operation of land speculators. A hypothesis is tested in addition to four specific objectives. The 21 land speculators with physical presence in five local governments neighbouring Lagos State, Nigeria, have been surveyed using questionnaires. Data gathered have been analysed using frequency distribution table, relative importance index (RII), ranking and linear regression. Findings of the study reveal that family is the major source of land acquisition. Also, land speculation activity is not regulated in the study area. The study reveals that the majority of the speculated land is not covered by a state recognised title. The most prevalent activity of the land speculators in the study area is apportioning land into plot with RII of 0.962. Also, land speculation is mostly financed using equity with RII of 0.895. Profiteering from business is the highest ranked motivation with RII of 0.914. The highest ranked perceived consequence from land speculator’s perspective is an increase in land price with RII of 0.914. The study hypothesis H0 stating that there is no significant impact of land speculation on land accessibility has been rejected and an alternate hypothesis has been accepted as it has been established that land speculation has a significant impact on land accessibility which means that land speculation is a major hindrance to land accessibility. Assessment of land speculator’s operation reveals their awareness of the negative consequences of their actions. However, they are motivated by anticipated proceeds from the venture.

Keywords: Land speculation; land speculators; land accessibility; Nigeria; operation (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/bjreecm-2022-0003 (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:vrs:bjrecm:v:10:y:2022:i:1:p:26-40:n:1

DOI: 10.2478/bjreecm-2022-0003

Access Statistics for this article

Baltic Journal of Real Estate Economics and Construction Management is currently edited by Ineta Geipele

More articles in Baltic Journal of Real Estate Economics and Construction Management from Sciendo
Bibliographic data for series maintained by Peter Golla ().