Role of actors in informal settlements real estate market

Literature suggests that majority of the urban housing in cities of many developing countries is provided in informal settlements through informal housing delivery systems. Due to their clandestine nature, their activities and modes of operation are often not well understood. This paper examines the...

Full description

Saved in:
Bibliographic Details
Published inJournal of Social Research & Policy Vol. 9; no. 1; pp. 55 - 68
Main Authors Opoko, Akunnaya Pearl, Oluwatayo, Adedapo Adewunmi, Amole, Bayo, Adeyemi, Ekundayo Adeyinka
Format Journal Article
LanguageEnglish
Published Oradea University of Oradea Publishing House (Editura Universitatii din Oradea) 01.07.2018
Subjects
Developing countries
Ghettos
Housing needs
LDCs
Low income groups
Population
Public sector
Regulation
Rents
Urban areas
Nigeria
Online AccessGet full text

Cover

More Information
Summary:Literature suggests that majority of the urban housing in cities of many developing countries is provided in informal settlements through informal housing delivery systems. Due to their clandestine nature, their activities and modes of operation are often not well understood. This paper examines the role played by both the government agencies and other market actors in the functioning and regulation of informal real estate land markets, especially in Lagos, Nigeria. A survey was carried out with the use of questionnaires and interviews. The analysis of the data reveals that there is a thriving property market, which appears to have some form of social regulation. The role of each of the actors, varying from informants, buyers, sellers, financiers, witnesses and government, are discussed. The paper concludes that the thriving informal real estate market needs to be strengthened to effectively cater for the housing needs of urban residents. This paper contributes to discussions on informal real estate markets in developing countries by examining the structure and mechanisms that govern urban real estate markets in informal settlements through a case study of Ayobo community in Lagos, Nigeria, an area where empirical work has been sparse.
ISSN:2067-2640
2067-9861