HEDONIC PRICES AND THE DEMAND FOR HOUSING ATTRIBUTES IN A THIRD-WORLD CITY - THE CASE OF IBADAN, NIGERIA

This Paper estimates the demand functions for a set of housing attributes for the city of Ibadan, Nigeria, using Rosen's two-step estimation procedure. The empirical results reveal that the most important determinants of the demand for housing attributes are: income, price of the attribute in question, household size and the occupational status of the head of household. The paper further indicates that the demand for housing attributes is inelastic as all estimated elasticities are below unity.