I'd like to know how I should calculate land value for a rear strata block.
If a 1000 sqm block has 2 strata blocks (500 sqm each with no common land).
The rear one has a long driveway of approx 100 sqm (25m long x 4m wide). This leave 400 sqm without the driveway.
Neighbouring land is selling around 600K of 1000sqm.
How do I calculate the land value?
The front block usually is more expensive because of the frontage.
Do you use 40/60 ratio etc?
I never look into a duplex before.
Thanks.
If a 1000 sqm block has 2 strata blocks (500 sqm each with no common land).
The rear one has a long driveway of approx 100 sqm (25m long x 4m wide). This leave 400 sqm without the driveway.
Neighbouring land is selling around 600K of 1000sqm.
How do I calculate the land value?
The front block usually is more expensive because of the frontage.
Do you use 40/60 ratio etc?
I never look into a duplex before.
Thanks.