- •Introduction
- •1. Price mechanism
- •Price mechanism in the Republic of Belarus
- •1.2. Foreign experience
- •1.2.1. Lithuania
- •1.2.2. Latvia
- •1.2.3. Estonia
- •1.2.4. Poland and Germany
- •1.2.5. Ukraine
- •1.2.6. Moscow
- •1.2.7. Czech Republic, Slovakia and Slovenia
- •Value and valuation of land
- •2.1. Market value in the Republic of Belarus
- •2.2. World information
- •2.2.1. Methods of valuation
- •2.2.2. Cost approach
- •2.2.3. Sales comparison approach
- •The conclusions
- •The list of resources
1.2.6. Moscow
In Moscow only the right to lease land is involved into circulation. At January 1, 1998 average market prices for competitive sales rights of long-term lease of land parcels ranged from 900 USD/m2 (estimated area №1 at the Garden Road Ring) to 50 USD/m2 (estimated areas №26-28, suburbs) and 26 USD/m2 (estimated areas №47-69 in Zelenograd suburb and other suburbs). Prices of long-term lease rights that are set up at land auctions are listed in Table 1.2.6 [18].
Table 1.2.6. Prices of long-term lease rights in Moscow (1997-1998)
Purpose meaning
|
Quantity of sales |
Square of a land parcels, ha |
Total income, thousands of USD |
Average cost of a land parcel, USD/m2 |
Land for residential building |
27 |
8.74 |
24653.3 |
282 |
Land for commerce |
26 |
8.52 |
7562.9 |
88 |
Land for administration building |
52 |
6.268 |
25623.7 |
408 |
Land for car gasoline service centre |
10 |
0.85 |
9526.0 |
1120 |
Land for petrol station |
8 |
2.69 |
1802.7 |
67 |
Another usage |
52 |
29.628 |
25126.7 |
84 |
1.2.7. Czech Republic, Slovakia and Slovenia
Demand for agricultural land in very small. The number of right change-over in 1996-1998 was small: 0, 2 % of the total area of agricultural land. Appropriately average prices were formed low (table 1.2.7): about 1.1 DEM/m2. Prices for large land parcels and lower quality parcels in the suburbs of big cities are about 5 DEM/m2. Almost 90% of agricultural lands are leased. Only 25 000 of farmers and agricultural enterprises are involved in agriculture. Rental rates for land in Slovakia are about 1.0 % of their price, and in Czech Republic – 0.8-1.0 %.
Prices of agricultural land in Slovenia are 2-10 DEM/m2 that is almost identical with the prices in neighboring Austria. The average size of land parcel in Slovenia is about 0.4 ha and 4-6 ha – in the Czech Republic [12].
Table 1.2.7. Average prices for agricultural land in Czech Republic, DEM/m2
Square, ha |
Plough lands |
Hay-fields |
Herbages |
Back-yards |
Gar-dens |
Vine-yards |
The number of sales,% |
Square, % |
Fewer than 0.1 |
3.00 |
1.54 |
1.38 |
3.26 |
3.66 |
0.72 |
56 |
6 |
0.1-0.5 |
1.94 |
1.16 |
1.88 |
2.50 |
1.66 |
0.60 |
29 |
15 |
0.5-2.0 |
1.32 |
0.94 |
0.60 |
1.50 |
1.72 |
|
11 |
25 |
2.0-5.0 |
1.30 |
0.94 |
3.60 |
0.04 |
|
|
3 |
18 |
Over 5.0 |
0.38 |
0.04 |
0.54 |
|
|
|
1 |
36 |