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 Post subject: Sale of adjoining land
PostPosted: Thu Jan 10, 2019 9:50 am 
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Joined: Fri Feb 02, 2018 1:33 pm
Posts: 29
Hi
I have received an email from my neighbour in rural northern portugal about the sale of about 0.65 acre of land adjoining my land. It would be great to buy it but am unsure of what it might be worth . You can see from the pic that my house is to the extreme right so it would be handy to have it .
Does anyone have any knowledge of the cost per acre over here?

Regards


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PostPosted: Fri Jan 11, 2019 9:03 am 
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Joined: Fri Sep 30, 2005 8:30 am
Posts: 709
Location: Portugal
The potential problem here is that your neighbour seems to be aware that the only person that the land has any significant value to is you. If it's agricultural/rustic land classification (ask for a copy of the documents) then the value is in the region of €5 to €6 per m2. That is a published government guideline figure and that value is for the Algarve so YMMV.

If you think he is likely to get planning permission for a house and you are buying to block that idea then values will be very different by a factor of at least 5x.

It does seem well cared for, trees nicely pruned, grass cut back - which is costing him money/time each year. It also depends on his nationality, whether he obtained it by inheritance or bought it as an investment - in which case what he paid for it in the first place will be in his mind ! So quite a few variables. Suggest you play it cool, say you are not that interested but could be interested at the right price and ask him/her to make the first move on quoting a price.

Let's hope its not another forum user !


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PostPosted: Fri Jan 11, 2019 5:21 pm 
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Joined: Tue Jul 18, 2017 12:55 pm
Posts: 37
When land is being sold, the vendor has to notify all neighboring land owners, is it possible that he is informing you as someone else is interested in buying ???? If this is case I believe he also has to tell you the price being negotiated???
I may be wrong but this was the case when we bought our land.
Nigel & Pamala


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PostPosted: Sat Jan 12, 2019 1:56 pm 
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Joined: Fri Feb 02, 2018 1:33 pm
Posts: 29
Than you all for the replies. I will keep you posted. It is a local so i think i am their only option really. probably think i am a moneybags (definately not!!) I have asked how much so we shall see. Need to get a new roof on first


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PostPosted: Mon Jan 14, 2019 11:33 am 
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Joined: Fri Feb 02, 2018 1:33 pm
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Wow, they are looking for €8k for the land. No thanks


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PostPosted: Tue Jan 15, 2019 10:02 am 
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Joined: Fri Sep 30, 2005 8:30 am
Posts: 709
Location: Portugal
As a starting offer it's realistic and you may well be able to negotiate downwards - maybe try an offer where you take ownership but lease him back the land and give him any produce from it.

If the designation of the land can be changed then you will have a nice 'pension pot' - if not then you at least maintain a clear view from your windows until someone else gets the same idea !


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PostPosted: Tue Jan 15, 2019 2:47 pm 
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Joined: Tue Jan 09, 2007 3:28 pm
Posts: 1231
Location: Bucks (UK)/Foz do Arehlo and Bom Sucesso
not strictly on topic, I am aware of the regs re selling land...does same apply if a neighbours house is to be sold?


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PostPosted: Fri Jan 18, 2019 9:42 pm 
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Joined: Sat Jul 02, 2011 5:17 pm
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Location: madeira
It used to be that neighbors had first right of refusal and thus had to be informed. I believe that law was changed about 2-3 years ago, and no longer applies.


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PostPosted: Sat Jan 19, 2019 9:03 am 
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Joined: Tue Jan 09, 2007 3:28 pm
Posts: 1231
Location: Bucks (UK)/Foz do Arehlo and Bom Sucesso
ah ha..thank you anyway


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PostPosted: Sat Jan 19, 2019 10:01 am 
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Joined: Sun Mar 12, 2017 9:01 pm
Posts: 91
madeira wrote:
> It used to be that neighbors had first right of refusal and thus had to be
> informed. I believe that law was changed about 2-3 years ago, and no longer
> applies.

Depends on if it's 'rustic farming' land I believe?
Certainly the acre next to me was just purchased (Sep 2018) under this system, two adjoining neighbours submitted sealed bids, highest bidder bought the land as is their right.


Last edited by PortofaKiwi on Sat Jan 19, 2019 1:09 pm, edited 1 time in total.

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