Nurturing property investment by re‐engineered systems for land pricing by local authorities

Abstract

Purpose

The research in this paper is aimed at re‐engineering existing approaches to the analysis of proposed developments in local authorities – from land pricing to planning permission – hence reducing the loss of revenue in councils, and nurture property development.

Design/methodology/approach

This paper is a case study of seven city councils on the Copperbelt province of Zambia was conducted using the same template of questions.

Findings

The research found that councils had overly politicised management structure, static appraisal methods, poor market data capture, analysis and use. Additionally, councils did not use market data on property values; hence the existing analysis and appraisal systems are static and ineffective.

Research limitations/implications

The paper shows that extracting current data from the councils proved a severe limitation.

Practical implications

The paper shows that councils can: learn how overly politicised their interdepartmental communication and data exchange is; enhance paper based systems of appraising proposed developments by adding established methods of project appraisal that can ease the collection, analysis and synthesis of construction business data used in the appraisal process; Employ, and support qualified personnel with adequate resources necessary to perform their duties professionally; make gradual improvements to existing systems within the cultural and political atmosphere of the council; and appraise proposed developments using accepted business approaches; just like private sector consultants do.

Originality/value

The research provides practical solutions that enhance professional appraisal techniques in councils of most underdeveloped countries, hence setting the basis upon which market driven strategies for nurturing property development can be made

Citation

Matipa, W.M. and Barham, R. (2007), "Nurturing property investment by re‐engineered systems for land pricing by local authorities", Journal of Property Investment & Finance, Vol. 25 No. 1, pp. 77-94. https://doi.org/10.1108/14635780710720180