Effect of Land Pricing on Residential Density Pattern in Akure, Nigeria

Abstract

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.

Chronicle of Exogenous Factors Influencing Infrastructure Maintenance in Residential Core of Akure, Nigeria

“…The city lies approximately on latitude 7 0 15 1 and 7 0 28 1 North of the Equator and longitude 5 0 6 1 and 5 0 25 1 East of the Greenwich meridian (Bello & Nwosu, 2011). The city is located approximately 420km South-west of Abuja, the Federal Capital of Nigeria and about 350km to Lagos the former capital of Nigeria (Fasakin et al, 2018). The population of Akure has been witnessing rapid growth in an exponential fashion; particularly, within the last 25 years, which has made it one of the fastest growing cities in South-western Nigeria (Olajuyigbe et al, 2015).…”