The Price of Land:

Hello:
A small plot of land in Dublin’s southside city centre is being offered to me for sale. It is approx. 5m x 15m, has road frontage but would not get planning permission.

  1. Is there a standard market rate for land I could use to calculate an approximate valuation?
  2. Is there a website for comparisons?
  3. Should I look elsewhere for advice? If so, where?

Any (polite) feedback would be appreciated.
Thanks and regards,
JF


Yes, the annual income less any costs derived from the asset expressed as a percentage of the purchase price.

You should be looking for a rate of return in excess of 6.5%. So if its returning approx €12k a year it’s worth about €150k.

Thank you very much for the sound advice.
However, this property (adjacent to my own) would not be generating any revenue whatsoever.
Although I live on the Southside city centre (-ish), it would not even warrant income as a car space, as there is free car parking in the area.

Perhaps you are aware of a “going rate” per square metre for ordinary urban land?

I do not believe it would be of interest to any of its bordering neighbours (perhaps wrongly, of course).
So I may well end up as the only bidder in this case.

Again your feedback would be greatly appreciated.
JF


Sadly. No would appear to be the answer.

Commercial propery often has a /sqm price attached to it, but this is finished office size, not the land beneath it.

Perhaps you’d be able to talk to a valuer and get them to assess the increase in value it would represent to your house were it to have a bigger garden? (I presume that is what you are talking about).

Please note that the posting guidelines restrict the use of real names. Do tell that you are using a pseudonym…

I didnt know that. I changed my name many years ago to The Naked Chef…Better re-register. :open_mouth:

hmmm 75 sqm of useless land that will produce no income and you can do nothing with. i’m thinking €5 grand and you’d be doing them a favour.

My thoughts exactly! …
(To be precise: I had thought EUR 10k and the seller should be happy).
However, I may be very wrong indeed.

Thank you for the helpful comments; much appreciated.

Apologies on my pseudonym … my cursory glance at the guidelines was obviously all to cursory…

I assume you have a planned use for this land??

Euro 300/sq.m. is a decent number to use for a good residential site in a good location, bubble prices were often 10 times this mind.
As there is no potential for planning (no reason given so will take it as so) the price should be allot less.

I would say Euro 22,500 if some possible future planning potential, less if you have a use for it, ZERO if you don’t

Any commodity is worth what ever someone is willing to pay for it. End of. If someone wants it, it has value. If no one wants it it is worthless.

you should offer the number of milch cows the land will support on a bi monthly rotational basis . . . No more no less . . . .

If he did that then wouldnt the seller need somewhere to keep said milch cows? He might even buy it back with double the number of cows, quick buck stylee.

Canny. :wink:

Possibly . . . He might also rent it back at 1/14 per annum the number of milch cows he paid for it . . .No more no less . . .