LPT: Query re oddly low valuation on property price register.

[STEINER]

Hi,

I am just looking up the residential property price register for my street and there are some sales for guidance in 2012/2011.

There is one with an odd price, €114,537.50. I was just curious about the figure. Would it include maybe an offset re unpaid management fees or something?

 

[mandelbrot]

Maybe it's a net of VAT amount - if you assume it is, it gives a VAT inclusive figure of €130,000 exactly...

 

[STEINER]

Maybe it's a net of VAT amount - if you assume it is, it gives a VAT inclusive figure of €130,000 exactly...

With that property it says VAT exclusive and for the other properties on the street that year also. Why don't they put the price up that the property sold for? So, it not just a matter of looking at the register and seeing the price, I have to get the calculator out.....

 

[STEINER]

I emailed the Property Services Regulatory Authority and they explained that prices shown for new property sold are net of VAT, while prices for 2nd hand property are not chargeable for VAT.

If you do a search, the list contains addresses and prices. These prices are relevant for stamp duty. You need to click on each property to see if VAT or not to get the selling price.

The website states this, yesterday I went straight into the register and didn't see that information. I didn't read the information note.

There are new builds in my area and I would have undervalued their selling prices, while thinking about my own valuation for LPT purposes.

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