DETERMINANTS OF COMMERCIAL LAND VALUE IN ZARIA URBAN AREA, NIGERIA.

Abbas, S.*, Musa, I.J. and Adefila, J.O.

Numerous researches have been conducted to examine the factors that influence residential land values in various cities. However, not much has been done to explain the variables that influence commercial land values. This study is an attempt to analyse the determinants of commercial land value in urban Zaria, Nigeria. In order to achieve this, a questionnaire survey was conducted on occupiers of commercial properties, with 23 sampling transects taken from around the various urban centre and sub-centres in the area. A sample size of 235 respondents was utilised during the survey; while multiple regression analysis was utilized to test a null hypothesis on the relationship between commercial land value and the many explanatory variables identified. The results show that most of the selected variables had a positive correlation with land value which implies that the hypothesis was rejected. It revealed that factors like nearness to Central Business District (CBD) (with a B regression value of 966.5), higher institutions of learning (942.9), urban sub-centres (703.1), land use type (410.3), population density (132), and road quality (95.9) significantly influence commercial land value. It was therefore, suggested that the two urban local governments should make planning arrangements for areas that show potentials of becoming commercial activity centres in a way that they can generate revenue from land value taxation.

Key words: Central Business District, Commercial, Land value, Sub-centres, Zaria.