AN ASSESSMENT OF URBAN SLUM UPGRADING AND PROPERTY VALUE CHANGES: A CASE STUDY OF IBADAN, OYO STATE

This study investigates the impact of urban slum upgrading on property values in Ibadan, Oyo State, Nigeria. Ibadan, one of Nigeria's largest cities, has experienced rapid urbanization, leading to the proliferation of slums characterized by inadequate infrastructure, poor housing conditions, and limited access to basic services. Urban slum upgrading has been proposed as a strategy to improve living conditions and stimulate economic development in these areas. However, the effectiveness of these programs in enhancing property values and improving the socio-economic status of residents remains unclear. The study employs a mixed-methods approach, combining quantitative analysis of property value changes with qualitative assessments of residents' experiences. Data were collected through structured questionnaires administered to residents, interviews with local authorities, and analysis of property transaction records. Additionally, field observations were conducted to assess infrastructural conditions. Findings indicate that slum upgrading initiatives have led to increased property values in the upgraded areas. Residents reported improvements in access to services, housing quality, and overall living conditions. However, challenges such as inadequate infrastructure and tenure insecurity persist, hindering the full realization of the benefits of upgrading programs. The study concludes that while slum upgrading can positively impact property values and living conditions, its success is contingent upon addressing underlying issues such as tenure insecurity and ensuring comprehensive infrastructural development. The findings provide valuable insights for policymakers and urban planners aiming to improve living conditions in urban slums.