The Role of Land Banking Strategies in Real Estate Investment Growth in Abuja
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Background of the Study
Land banking refers to the practice of acquiring and holding land for future development or investment purposes. It is an important strategy used by real estate developers and investors to capitalize on the future appreciation of land values (Musa & Hassan, 2023). In Abuja, the capital city of Nigeria, land banking has become a significant component of real estate investment due to the city’s rapid expansion, increasing demand for housing, and limited availability of land for development. As the capital city continues to grow, land banking presents a way for investors to secure valuable land in prime locations that will appreciate in value over time (Salim & Yakubu, 2024).
Abuja’s real estate market has experienced remarkable growth in recent decades, driven by both public and private sector investments in infrastructure, housing, and commercial developments (Idris & Ganiyu, 2023). As the demand for land and property increases, land banking has become an attractive strategy for investors who seek to benefit from future growth in land values. However, despite the potential benefits of land banking, the practice raises questions about its impact on the broader real estate market, including issues such as land speculation, price inflation, and the exclusion of lower-income groups from accessing affordable land (Olamide & Nuhu, 2024).
This study aims to examine the role of land banking in fostering real estate investment growth in Abuja. By analyzing the effectiveness of land banking as an investment strategy, this research will provide insights into how it can be leveraged to enhance real estate market dynamics, while considering its potential risks and challenges.
Statement of the Problem
Land banking plays a critical role in the growth of the real estate market in Abuja, but its implications are not well understood. While land banking can provide investors with significant returns by capitalizing on land appreciation, it may also contribute to rising land prices and exacerbate issues of land scarcity, which can limit access to affordable housing for lower-income populations. The role of land banking in real estate investment growth, and its impact on land prices and market dynamics in Abuja, requires further investigation. This study seeks to assess the effectiveness of land banking strategies in driving real estate investment growth in Abuja and their broader economic and social impacts.
Objectives of the Study
- To examine the role of land banking in promoting real estate investment growth in Abuja.
- To assess the impact of land banking strategies on land prices and property market trends in Abuja.
- To identify the benefits and challenges of land banking for investors and the broader real estate market in Abuja.
Research Questions
- How does land banking contribute to real estate investment growth in Abuja?
- What impact do land banking strategies have on land prices and property market trends in Abuja?
- What are the benefits and challenges associated with land banking in Abuja’s real estate market?
Research Hypotheses
- Land banking significantly contributes to real estate investment growth in Abuja.
- Land banking strategies have a significant impact on land prices and property market trends in Abuja.
- Land banking presents both benefits and challenges for real estate investors and the broader real estate market in Abuja.
Scope and Limitations of the Study
This study will focus on land banking strategies in Abuja, specifically examining their role in real estate investment growth and their impact on property prices and market trends. Limitations may include challenges in accessing detailed land banking transaction data, as well as potential biases in self-reported data from investors. Additionally, the impact of land banking on the affordability and accessibility of land for local residents may be difficult to fully quantify.
Definitions of Terms
- Land Banking: The practice of purchasing land and holding it for future development or investment, often with the expectation of future price appreciation.
- Real Estate Investment: The acquisition of property for the purpose of generating income or capital gains through sale, rental, or other means.
- Property Market Trends: The patterns and dynamics that influence the buying, selling, and leasing of properties, including supply, demand, and pricing factors.
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