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Top Academic Journal of Economics and Statistics
Vol. 9 No. 6 (2024): November-December
Original Articles

RARITY OF DEVELOPMENTS AND MARKETABILITY OF GATED ESTATES IN IBADAN URBAN FRINGES

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  • Adewoyin, Ismail Bimpe Ph.D,
  • Falegan, Abayomi Vincent Ph.D,
  • Audu, Hakim Ademola Ph.D.
Adewoyin, Ismail Bimpe Ph.D
Department of Urban & Regional Planning, Lead City University, Ibadan
Falegan, Abayomi Vincent Ph.D
Department of Urban & Regional Planning, Lead City University, Ibadan
Audu, Hakim Ademola Ph.D.
Department of Urban & Regional Planning, Lead City University, Ibadan
DOI: https://doi.org/10.5281/zenodo.14616005

Published 2025-01-08

Keywords

  • Gates Estates, Marketability, Peripheral Urbanization, Rarity of Developments

How to Cite

Adewoyin, I. B., Falegan, A. V., & Audu, H. A. (2025). RARITY OF DEVELOPMENTS AND MARKETABILITY OF GATED ESTATES IN IBADAN URBAN FRINGES. Top Academic Journal of Economics and Statistics, 9(6), 1–14. https://doi.org/10.5281/zenodo.14616005

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Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Abstract

This study investigates the rarity of developments and the marketability of gated estates in the urban fringes of Ibadan, employing a mixed-methods approach. Utilizing a purposive sampling strategy, data were collected from 150 gated estate schemes across five of the six local government areas in outer Ibadan. Through exclusion and inclusion criteria, the study focused on 68 registered estate developers. Findings reveal that the Ido Local Government Area has the highest concentration of gated estates at 37.3%, while Oluyole has the lowest at 7.5%, correlating with its significant government land acquisitions. The distance of these schemes from the inner city plays a crucial role in their marketability, with 80.6% of respondents indicating that the majority of estates are situated 31 to 45 kilometers from the inner city, whereas only 3% are located within 15 kilometers. Satisfaction levels regarding physical development among respondents indicate moderate contentment, with 59.7% expressing moderate satisfaction, while 19.4% are very satisfied, and a mere 1.5% are extremely satisfied. In contrast, 16.4% reported slight satisfaction and 3% were not satisfied at all. These findings imply that while there is potential for growth in the gated estate market, developers must address the significant gaps in physical development and accessibility to enhance attractiveness. The study concludes that targeted urban planning strategies and improved infrastructural development are essential to boost marketability and overall satisfaction with gated estates in Ibadan's urban fringes, particularly in underdeveloped areas such as Oluyole. This research provides critical insights for stakeholders in real estate development, urban planning, and policy formulation aimed at fostering sustainable urban growth

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