Tuesday, 7 January 2014

Weightings for the Cadastral Valuation of the Land in Spain

Coefficients for the Value of the Land in Spain

Definition and Application

While calculating the value of the land we should apply, where appropriate, the following weightings:
  • Coefficient A: for plots with two or more facades, shaping one or more corners (1.10 for two facades, 1.15 if three or more)
  • Coefficient B: for plots where the length of the facade is less than the minimum allowed by the urban planning (the higher value between 0.60 and L/LM, where L is the actual length of the facade and LM is the minimum length allowed by the urban planning or, where appropriate, by the Statement of Values)
  • Coefficient C: for plots irregular in shape, if this circumstance prevents or hinders obtaining the exploitation assigned by the urban planning (0.85)
  • Coefficient D: for plots with excess of depth in relation with the depth which allows to complete the buildable Gross Floor Area allowed by the urban planning or, if applicable, whith the depth which is considered normal in the city, applicable where the assigned building typology is closed block (1/n + 1, where n is the allowed number of storeys)
  • Coefficient E: for plots where the area is different than the minimum size allowed by the urban planning or, where appropriate, by the local custom, applicable where the assigned building typology is open building (0.80 if S/SM is less than 1, 0.70 if S/SM is bigger than 2, and 1.00 in all other cases, where S is the area of the plot and SM is the allowed minimum area)
  • Coefficient F: for plots where the building activity is not allowed, due to temporary or partial circumstances in relation with the urban planning or with the law, applicable to the affected part of the undeveloped plot while that condition persists, and provided that has not already been considered in the Statement of Values (0.60)
  • Coefficient G: for plots assigned for the construction of houses under official protection, or under other public protection arrangements, applicable to undeveloped plots (0.70).

Application of the Coefficients for the Value of the Land

Since the Impact Value already considers most of the circumstances conditioning the value of the real estate product, when we use the Impact Method for the valuation of the land we can only apply Coefficients A and B. However, when we use the Unit Method, all coefficients are applicable, where appropriate as a result of those features of the land that make it specific within the overall real estate market. In any case, the scope of the weightings should be defined in the Statement of Values.
Property Valuation Reports in Spain

Daniel Trujillano, Architect

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