Currently, land prices are determined in two ways:
- expert opinion (according to Decree No. 492/2004 Coll.),
- expert opinion (pursuant to Section 206 of Act No. 160/2015 Coll.).
The expert opinion is prepared by an expert, while the professional statement is usually prepared by a person authorised for real estate activity. An expert opinion is generally considered a more professional way of determining the market price of land, but it tends to be more expensive.
Of all types of real estate (apartments, buildings, land), the most difficult is the determination of the value of land, mainly because of the large number of factors that affect the price of land and also because of the higher professional demands required of the person determining the price. This includes knowledge of legislation, zoning plans, etc.
How to find out the price of land?
The basic facts that affect the price of land include:
- the purpose designation of the land according to the zoning plan,
- prices of comparable land,
- location (extravilan/intravilan, distance from larger towns, from the motorway, from the city, etc.),
- protection zones,
- legal encumbrances (easements, etc.),
- the shape of the plot,
- possibility of connection to utility networks.
If you want to find out the price and other features of your land or the land you are buying, you can have a so-called land certificate prepared, which contains a professional opinion on the price of the land and other information relevant to the sale of the land.
Of course, if you dare, you can also estimate the price yourself. However, you run the risk of undervaluing the land or overvaluing it. While you risk financial loss if you undervalue, if you overvalue, you lose time by unsuccessful selling and potential buyers.
