City development is a result of many factors, of which land value is one of the major determinants. The past urban economics studies have shown that land value is largely determined by location factors such as distanc...City development is a result of many factors, of which land value is one of the major determinants. The past urban economics studies have shown that land value is largely determined by location factors such as distance from Central Business District （CBD） ignoring the non-location factors like time of purchase and neighbourhood infrastructures. Therefore, this paper attempts to establish the relative importance of location and non-location factors in the determination of residential land value by positing Onitsha, Nigeria as a case study. Eight hundred and fifty residential housing units were selected and questionnaire administered to the landlords through multi-stage sampling technique. The stepwise regression analysis results showed that non-location factors, especially, time of land purchase, contribute more to the variation in residential land values. The paper suggests the revision of the classical economic theories to represent the conditions of urban areas in developing countries .展开更多
文摘City development is a result of many factors, of which land value is one of the major determinants. The past urban economics studies have shown that land value is largely determined by location factors such as distance from Central Business District （CBD） ignoring the non-location factors like time of purchase and neighbourhood infrastructures. Therefore, this paper attempts to establish the relative importance of location and non-location factors in the determination of residential land value by positing Onitsha, Nigeria as a case study. Eight hundred and fifty residential housing units were selected and questionnaire administered to the landlords through multi-stage sampling technique. The stepwise regression analysis results showed that non-location factors, especially, time of land purchase, contribute more to the variation in residential land values. The paper suggests the revision of the classical economic theories to represent the conditions of urban areas in developing countries .
