What determines the cost of a land plot for industrial and commercial needs
When deciding to buy a land plot, many entrepreneurs are faced with a rather difficult choice. The commercial real estate market is vast and there are a lot of options, prices can also vary dramatically, which is why you should clearly understand what factors influence their formation in order to buy a plot that will fully meet your requirements.
First of all, the price of land depends on its purpose and general trends in the formation of the value of large plots. For land for the construction of residential buildings, industrial, logistics, commercial or office buildings, prices will be formed in different ways, based on a complex of several important characteristics and conditions.
What factors influence pricing?
Before buying a land plot, it is worthwhile to clearly determine which criteria are of paramount importance to you, and which, if urgently needed, can be omitted. By clearly identifying this for yourself, you can have an idea of the estimated prices.
- Location close to key routes is an important point if you are planning the construction of a facility with a logistics focus or an industrial workshop, as this greatly simplifies the transportation of products. Of course, if the site is close to the highway, then its cost will be higher.
- The proximity to transport junctions, as well as the degree of their preparedness – plays practically the same role as the previous point, as it will allow you to transport your goods with greater convenience.
- The presence of fully registered documents of ownership with cadastral numbers is an indicator of the seller’s conscientiousness and a significant plus in favor of buying a plot. A suspiciously low cost may indicate a problem with the documents.
- Engineering communications (gas supply, electricity, water supply, sewerage, etc.) – of course, their presence increases the cost. Usually they are found in areas where there are already buildings (both for demolition and in good condition), but communications may need additional repairs.
- Availability of buildings. In this case, everything is somewhat more complicated and the price depends on their condition: if the building is for demolition, then the cost practically does not increase, and if the premises are quite suitable for use (repair work may be required), then buying a plot with this option will cost you more.
- The presence of trees and other green spaces – the cost can be reduced if, as a result, the buyer will have to carry out additional work on the improvement of the territory.