Determination of land’s market value - case study - Bârlad, Vaslui county

Abstract

Through the approach manner, was followed the formulation of some features of rural goods evaluation and the requirements of this field and which will ultimately allow the fair value of the land to be determined.The methodological system that was used in the process of processing the collected information, the presentation of the results and the formulation of some conclusions, has specific methods and procedures for the evaluation of the lands.The purpose of this paper is to identify and correctly assess the value of the land market on the basis of all the information necessary to achieve this.The paper analyze punctual and methodological the land assessment in the town of Barlad through the method of compariing and the extraction.The values for the comparable properties are reconciled to a value by arranging these comparable in a relative ranking relative to the property under evaluation.The property evaluated ranks between the highest value in the group of properties comparable to the positive corrections (comparable to C) and the lowest value in the group of comparable negative (comparable B).Given the characteristics of the land, the location in the area, crossing place, the utilities at its disposal, its condition at the date of evaluation, the value obtained by this method and which can be taken into account is 24 € / sqm.The market value of the land determined by the market comparison method was: Vp = 1000 sqm x 24 € / sqm = 24000 € x 4.53 lei / € = 108.720 Lei.By the extraction method, the value of the land is deducted from the sale price of a property by deducting the value of the construction contribution estimated by the cost method.According to the information from the construction companies, the prices for a square meter of building are between 400-500 € / sqm depending on finishing.The market value of the subject land determined by this method is obtained by the difference between the value of the property and the value of the constructions.The market value of the subject land by the extraction method was: Vp = 34372 € = 155.705 Lei.