Effect of Land Pricing on Residential Density Pattern in Akure, Nigeria. TETFUND University Research Grant.

Land pricing has produced a new order of residential density arrangement in Nigeria urban centres. There is a noticeable variation in land prices with the levels of residential density distribution in Akure, Nigeria. The research looked at the emergent residential density pattern in Akure, as a result of the pricing profile of land especially at the periphery of the city where three residential estates were randomly selected. With the use of GIS and IKONOS Imagery, the total number of buildings in the three estates was 5,104 [Oke-Ogba – 2,723; Obele – 2117 and Alagbaka - 264] out of which 10 percent, representing 510 were sampled. The Pearson Moment Correlation test revealed a significant correlation between Price and year of land purchase and the development, area of land, income of owners and household size. Policy measures were set forth for the development of mechanism for density mix that will fill the vacuum created due to rising land price in the city. Keywords: land, price, residential, urban centre, Akure.

This paper assesses dynamics of e-Land pricing mechanism for managing residential densities in a medium sized city in South West, Nigeria. Objectives of the research include assessment of e-land pricing interface, land price prediction and e-land pricing reform among others. Total number of buildings in the selected residential estates was counted using GIS and IKONOS Imagery, in Oke Ogba, Obele and Alagbaka with 2,723, 2,117 and 264 buildings respectively all amounting to 10% of the building count in the study area. Regression analysis was used to present, interpret and discuss research findings. The findings showed the main factors responsible for land pricing. The paper developed an electronic pricing interface for pricing policy formulation and implementation. Duly tested, the model was recommended for adaption by Ondo State Government in a joint effort with the land buyers, sellers, families and government to enhance the management of residential densities in the study area.

One of the major challenges of Akure in the past two decades is the uncoordinated residential density development. This paper examined this haphazard development by mapping out the housing density mix in selected residential neighbourhoods in the city with a view to developing an e-land pricing model for its effective land management therein. The study identified three residential estates in Akure as representatives of the three broad densities (high, medium, low) in the residential zones using Geographic Information Systems (GIS). Primary data were generated from the administration of structured questionnaire that captured information on socioeconomic characteristics of the respondents, location of buildings, plot sizes, coverage and prices among others. From the research findings, a high level of unregulated pricing was obvious particularly in the private sector that controls vast areas of the city land. The closer a private landed property to the city centre or a government housing scheme, the higher the price irrespective of the plot size. Sudden increase in income of residents is a determinant of the willingness to purchase land at high prices. To address this trend this study has developed an e-land pricing interface to regulate the residential density choice in the city. The model was tested to successfully predict specific areas for density development given certain variables such as regular income of land buyers, price of land, plot sizes among others. An administrative structure that can ensure management of the proposed e-land pricing reform measure was specified for effective density mix in the city.