Many municipalities lawfully charge a higher rates for vacant land than for developed properties, provided this is justified in their adopted rates policy.
Well-located development land has become increasingly sought after by developers, land bankers, institutions and private investors looking to secure tomorrow's opportunities at today's prices.
As South Africa's cities expand and infrastructure investment continues to reshape growth corridors, says Greg Dart, the director at The High Street Auction Co.
He says development land is one of the few asset classes where value is created-not simply acquired. It represents opportunity in its purest form: the ability to shape the next industrial park, logistics hub, residential estate, mixed-use precinct or retail destination.
“The greatest developments begin with the right piece of land. The greatest land transactions begin with the right marketplace. Auction brings both together-connecting vision with opportunity and transforming potential into realised value.”
