ABSTRACT

This study is a comparative study of land values along the major arterial roads in Benin City. Estimated rent of properties was used. Results of the study shows that the accessibility benefits of transport nodes are positively and significantly associated with all property values especially commercial properties. The study hypothesize that there is no variation in land values along the four major arterial roads chosen for the study. The Hypothesis was tested using Analysis of Variance (ANOVA). Result show that there is a significant variation in land values along the major arterial roads in Benin City with Airport road having the highest value, followed by Akpakpava road, then Oba market road, while Sakponba road has the least value. The nearness to road was observed to be the major attraction to those whose shops/ stores are located along Airport road, Akpakpava road and Sakponba road while the nearness to areas of commercial activities was what attracted occupiers of properties on Oba market road. It was observed that there is a marked decrease in land values and variation in values from the Central Business District (CBD) towards the peripheral areas.

Keywords: Land value, spatial variation, accessibility, Central Business District (CBD).