Property Value vs Price

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Onewisdom
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Joined: 03 Oct 2014 12:06

Property Value vs Price

Post by Onewisdom » 05 Oct 2014 12:31

The Department of Land and Surveys publish a land valuation.
Is that the price that sellers base their selling price for vacant land?
Thank You!



Nigel Howarth
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Re: Property Value vs Price

Post by Nigel Howarth » 05 Oct 2014 12:42

Hi Onewisdom and welcome to the forum.

The Land Registry valuation is for taxation purposes only and will included everything shown in the title - house, apartment, etc. (Also the Interior Minister has admitted that there are massive mistakes in the recent land registry valuations).

The actual 'value' of land/immovable property is what someone is prepared to pay for it. Sellers tend to set the price of a property on how much they would like to get for it - in many cases these prices are overblown.

Regards,


Nigel Howarth
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