THE EFFECT OF LAND TITLE REGULARIZATION ON PROPERTY VALUES: A CASE STUDY OF ADO-EKITI, EKITI STATE

This study investigates the impact of land title regularization on property values in Ado-Ekiti, Ekiti State, Nigeria. Land title regularization refers to the process of formalizing land ownership through legal documentation, such as the issuance of Certificates of Occupancy (CofO). In Nigeria, this process is governed by the Land Use Act of 1978, which vests land ownership in the state while granting individuals rights of occupancy (Ekiti State Bureau of Land Services, n.d.). The research employs a mixed-methods approach, combining quantitative data analysis with qualitative interviews, to assess how formal land titling influences property market dynamics. Quantitative data were collected through surveys administered to property owners in Ado-Ekiti, while qualitative insights were gathered from interviews with real estate professionals and land administrators. Findings indicate that land title regularization enhances property values by improving tenure security, facilitating access to credit, and reducing transaction costs. Specifically, property owners with formal titles reported an average property value increase of 30% post-regularization. These findings align with existing literature, which suggests that secure property rights incentivize investment and economic development (Akinola et al., 2019). The study underscores the importance of efficient land administration systems in promoting real estate development and economic growth. It recommends that policymakers streamline land titling processes and invest in capacity building for land administrators to enhance service delivery. Additionally, the study suggests that further research should explore the long-term effects of land title regularization on property markets in other regions of Nigeria.