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Property Value vs Price
Posted: 05 Oct 2014 12:31
by Onewisdom
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!
Re: Property Value vs Price
Posted: 05 Oct 2014 12:42
by Nigel Howarth
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,