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 25 Prices for rural land. (Read 8467 times)
bruixot
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Prices for rural land.
Jan 29th, 2013 at 3:49am
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Hi gang
Does anyone know the current value of an acre of rural/agricultural land please? Mi info is a few years old when it was about 1500 euros an acre. Anyone have newer info?
Bruixot
  
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fatphil
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Re: Prices for rural land.
Reply #1 - Jan 29th, 2013 at 10:06am
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I was recently told by an estate agent in Mas de Barbarians that Agricultural land is not valued by the acre.
He said a valuation was based on the house on the Parcela and if it had a Cedula and was legal.
So I asked what would be the value of a house on a one acre Parcela and the same house on a ten acre Parcela and he replied the same !
  
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bruixot
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Re: Prices for rural land.
Reply #2 - Jan 29th, 2013 at 10:29am
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I don't know who your estate agent is but according to his logic it's worthless without a house on it?
And I didn't expect it to be valued by the acre just by square meters or jornales and converted. Does anyone have a clue please? Surely Jools? : )
I'm not looking to buy or sell I am just trying to find the real value.
Bruixot
  
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Smidge
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Re: Prices for rural land.
Reply #3 - Jan 29th, 2013 at 11:02am
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I would say it is very difficult to value a acre of land. So many things have to be considered. Is it an acre on its own or part of a larger pacella,? does it have a building or not?, does it have access,? does it have water,? does it have a power supply? Is it near a village?, a main road,? a beach,? nearby neighbours? Is it strategic to some other land? Does the owner want to sell it? How much does the buyer want to buy it.? Its real value is what the buyer will pay and the seller will sell at. Cry
  
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cazntony
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Re: Prices for rural land.
Reply #4 - Jan 29th, 2013 at 11:28am
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Sorry to change the subject slightly but along similar lines. 
Does anybody know the easiest way to find out if a certain piece of land is for sale and if so how to go about making an offer for it.
The land i am referring to was farmed with pears but the gentlemen was getting on a bit and about three years ago puled the trees up and nothing has happened with it since.

Thanks for any advice in advance.

Caz
  
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bruixot
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Re: Prices for rural land.
Reply #5 - Jan 29th, 2013 at 12:30pm
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Of course it varies but there is an average price for an area of agricultural land and it is this I am trying to find. As I said two years ago it was 1500 euros. I am trying to find if this has changed much in the last few years.  For making an offer on land go to the ajuntamineto and find the parcela and poligono numbers and they will tell you who owns it and their address. Go and make an offer.
Bruixot
  
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Nobrot
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Re: Prices for rural land.
Reply #6 - Jan 29th, 2013 at 1:20pm
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Dont the bank do mortgage valuations based on the gross/net income.Assuming of course that it is in production.
  
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Smidge
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Re: Prices for rural land.
Reply #7 - Jan 29th, 2013 at 4:53pm
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According to this article unlike urban land agri land prices have not fallen very much in Spain i.e 7% So if it was 1500 it should be about 1400 now.
http://www.spanishpropertyinsight.com/2012/12/24/agricultural-property-prices-in...
Hope this helps Smiley
  
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ddspain
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Re: Prices for rural land.
Reply #8 - Jan 29th, 2013 at 5:03pm
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Where did the 1500 euros for two jornales (1 acre) come from?
I don't think I have seen much land that cheap, unless middle of nowhere and nothing on it. Shocked
  
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bruixot
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Re: Prices for rural land.
Reply #9 - Jan 29th, 2013 at 5:28pm
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It was a figure based on dry cultivated land with no buildings. I've spoken to someone in the real estate business today and got a much lower figure. Just because some agents are asking for 5 thou for an acre doesn't make it worth that. The figure I was given today was nearly half of the one three years ago. Incidentally having water on your land doubles the value.
I've found out what I needed to know thanks. Do you doubt the 1500 figure then? I could go and buy an acre and a three quarters of cultivated,dry land with no buildings without negotiating right now if I had two grand in the bank.
Bruixot
  
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bruixot
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Re: Prices for rural land.
Reply #10 - Jan 29th, 2013 at 7:52pm
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And having read the comments on the aforementioned article on rural land price drops I find this coincides with the info I've been given. Unfortunately Spanish companies seem to be in cloud cuckoo land when it comes to prices as do the sellers of anything second hand here.  I can buy the stuff new and ship over here from the UK and still beat their prices by more than 50%
As for not seeing land at these prices for sale just because the sellers expect X amount doesn't make it really worth that. Ditto for estate agents which could be a case of unscrupulous persons inflating prices for suckers for a fatter commission or, in the case of honest agents, unrealistic prices demanded by the sellers.
Bruixot
  
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ebrorob
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Re: Prices for rural land.
Reply #11 - Jan 29th, 2013 at 8:20pm
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Bruixot,  I would have thought the world was your Oyster at present here with regard to buying anything!  Non of us ex-pats can sell our places except at rock bottom prices! I have piped Water & mains Electric,plus good access etc.. but my property & rural land seems to be valued at the same price as similar sized properties (Fincas) with crap access,no piped water & no mains electric!  Valuations etc..  depends on who's buying!!!     Cry Cry
  
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fatphil
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Re: Prices for rural land.
Reply #12 - Jan 29th, 2013 at 8:32pm
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It's not only the Spanish estate agents who talk complete rubbish !
I recently had an English agent try to convince me that you could not split parcelas and sell off part plots,as the Spanish do when they sell a shack on a quarter acre allotment !
Estate agents seem to have the opinion all brits don't have a clue with regard to land and house sales.
  
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El_Alto
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Re: Prices for rural land.
Reply #13 - Jan 29th, 2013 at 11:22pm
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Hi bruixot,

I bougt my finca in 2006. According to my research at the time a good price for dry campo land was  0,25 euro a square meter (around 1000 euro an acre). Of course things as a nice ruin to reform, a nice area etc. could raise the price a bit. And big pieces of land (above 10 acres) are relatively a bit cheaper. In the end I paid 0,35 euro a square meter. I don't think the prices for campo land did change a lot the last few years. My rule of thumb to find the market price: Look on the big property websites as kyero, libercase or mipercela. the cheapest 20% represents a realistic market price, the rest is wishfull thinking.

Mark
  
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ddspain
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Re: Prices for rural land.
Reply #14 - Jan 30th, 2013 at 10:10am
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As Smidge said earlier:-
The real value of something is what the buyer will pay and the seller will sell at.
I don't doubt that there is land out there for 1500 euros an acre and possibly cheaper, but it depends if it is the land you want. If it is then great, if not you have to pay what is asked for the land that you do want.
There are many people out there giving different estimates. Back in the boom many were saying 6000 a jornale for land with water and 4000 for land without. I know for a fact many people paid this , or close, at the time for what they wanted, as it was what they wanted and were prepared to pay it.
It also seems like everyone should be coming to you Bruixot for their second hand needs if you can beat all the prices on here by 50%  Wink

  
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