whats with land value?
I can find acres and acres for sale (40 acres plus) for sale at the same price as half acre site and 3/4 acre sites. Planning permission aside - why is this.
Should planning permission make land a fraction of the size worth the same amount?
Also suspicious that half acre sites with planning permission are priced at around 150,000 euros (CRAZY) which is the stamp duty threshold.
That cheap 40 acres will be zoned for agricultural use only. If it was zoned for commercial or residential use it’d be worth far more. Pay the local councillors to get it zoned commercial or residential and provide the brown envelope to get planning permission too and it’ll be worth a fortune. Hence Mr Dunlop, Justice Flood, and an army of lawyers trousering vast piles of cash up at Dublin Castle.
Our entire land zoning/planning permission system is hopelessly corrupt.
What you are paying for is permission to build a home; the size of the site is secondary. The value of agricultural land is a factor of its productive capacity, which is typically reflected in its annual rental value. I believe that you can rent an acre of reasonable land in Ireland for â‚¬250-400 an acre pa. Land values in Ireland are currently more than twice those in the UK, not because Irish land is more productive but because ‘hope value’ is greater, i.e. the prospects of reciving planning permission for housing are greater (or are perceived to be). Its all part of the bubble mania, any analysis of the fundamentals shows that valuations are utterly adrift from reality.
Again its dependent on where the land is, but what is the actual value of an acre of agricultural land in an average location in Ireland as compared to an acre of agricultural land in Argentina, Brazil or Canada. In economic terms free of CAP considerations the fundamental values are pretty much the same.