CONTRIBUTING EFFECT OF LAND TITLING TO LAND VALUE: LEARNING FROM AKURE, NIGERIA

Purpose: The purpose of this paper is to explain the contributing effect of land titling on land value with a special focus on Akure, Nigeria. Land titling has an abstract economic value that untitled physical assets do not have. The inability to measure this economic value as it affects land value in the context of the urban land market often poses a difficult task as there were no readily available data. The consequence may mean difficulty in determining the precise land value under competitive conditions in the urban land market.
Design/methodology/approach: Questionnaires are distributed to 2026 household heads who are landowners of selected private residential layouts/estates in the study area. Data gathered are analysed using 2 stages hierarchical form of semi-log hedonic price analysis to determine the contribution of land titling to land value. 
Findings: The finding shows that when land titling is considered alone with land value, there is a statistically significant contribution of about 27% to land value and 126% when considered alongside the other independent variables.
Originality/value: The outcome of the paper will join the body of existing studies to empirically demonstrate to landowners, valuers, land administrators, other stakeholders and policymakers that land titling is a unique factor to be considered when assessing land value. Otherwise, considerable discretion and logical judgment may be difficult to make under the untitled land transaction setting.