Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria
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 operat...
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| Format: | Article |
| Language: | English |
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Sciendo
2022-01-01
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| Series: | Baltic Journal of Real Estate Economics and Construction Management |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/bjreecm-2022-0003 |
| _version_ | 1811319907725344768 |
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| author | Oyedeji Joseph Oyewale |
| author_facet | Oyedeji Joseph Oyewale |
| author_sort | Oyedeji Joseph Oyewale |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-04-13T12:50:30Z |
| format | Article |
| id | doaj.art-b9afbda234da4058a2ebc363c23447e0 |
| institution | Directory Open Access Journal |
| issn | 2255-9671 |
| language | English |
| last_indexed | 2024-04-13T12:50:30Z |
| publishDate | 2022-01-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Baltic Journal of Real Estate Economics and Construction Management |
| spelling | doaj.art-b9afbda234da4058a2ebc363c23447e02022-12-22T02:46:14ZengSciendoBaltic Journal of Real Estate Economics and Construction Management2255-96712022-01-01101264010.2478/bjreecm-2022-0003Assessment of Land Speculator’s Operation for Land Accessibility in NigeriaOyedeji Joseph Oyewale0Estate Management Department, Bells University of Technology, Ota, NigeriaLand 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.https://doi.org/10.2478/bjreecm-2022-0003land speculationland speculatorsland accessibilitynigeriaoperation |
| spellingShingle | Oyedeji Joseph Oyewale Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria Baltic Journal of Real Estate Economics and Construction Management land speculation land speculators land accessibility nigeria operation |
| title | Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria |
| title_full | Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria |
| title_fullStr | Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria |
| title_full_unstemmed | Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria |
| title_short | Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria |
| title_sort | assessment of land speculator s operation for land accessibility in nigeria |
| topic | land speculation land speculators land accessibility nigeria operation |
| url | https://doi.org/10.2478/bjreecm-2022-0003 |
| work_keys_str_mv | AT oyedejijosephoyewale assessmentoflandspeculatorsoperationforlandaccessibilityinnigeria |