Land speculation in urban areas like Shashemene, Ethiopia, is driven by policies and urbanization, leading to increased demand for land. Speculators from various backgrounds compete for land, transforming peri-urban areas and increasing societal costs by 5-11%. The study used surveys, observations, and interviews to analyze the economic role and motives of speculators, showing how land rights shift from agriculture to built-up properties. Urban growth in Ethiopia has significant impacts on land use and local communities.