The high demand for land provides land speculators the opportunity to hold land in anticipation of a price increase over time. Although the objective of the 1993 Land Use Statement was to test extra land speculation, the announcement has only been successful in fueling it. This study examines the role of land speculators around the outer edge of Shashemene’s metropolitan area. Primary data for this study was collected through a questionnaire with 73 respondents who were sampled using snowball sampling techniques. The chief findings of this study reveal that land speculation is still practiced in the study area, and the respondents affirmed that land speculators engaged in land speculation mostly for economic benefits.