DRIVERS AND MARKETABILITY OF PERI-URBAN DEVELOPABLE SITES IN SOUTHWEST NIGERIA

Oluwatosin B. Fateye and Olaseni O. Adetokunboh

AfRES from African Real Estate Society (AfRES)

Abstract: Despite the infrastructure-lag characterised with peri-urban especially in developing countries, the alarming rate of property development and investment by corporate developers in urban fringes in the recent time is worrisome. Thus, the study probed the drivers and marketing approaches of investment property in the peri-urban areas. The study used primary data and adopted questionnaire survey. Members of both REDAN and NIESV were sampled. The study employed cross-tabulation, mean weighted score (MWS), correlation analysis and analysis of variance (ANOVA) to analyse its data. The result of the cross-tabulation analysis showed that members of REDAN and NIESV have similar views towards high rate of property development and investment in the peripheral communities; drivers such as proximity to major cities, demand-pull, land availability and affordable rental dwellings with high MWS were rated higher. Strong positive correlation was noticed between economic outlook and affordable rental dwellings, proximity and demand-pull. The study established high marketability potential of investment property in urban fringes; while aggressive marketing style was identified by respondents; skeletal property development and site cum service scheme were the primary marketing strategies adopted. The result of ANOVA showed that demand-pull, land availability and population growth could significantly influence (p

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:2019-119

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