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

Nurturing property investment by re‐engineered systems for land pricing by local authorities 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 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

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

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Publisher
Emerald Publishing
Copyright
Copyright © 2007 Emerald Group Publishing Limited. All rights reserved.
ISSN
1463-578X
DOI
10.1108/14635780710720180
Publisher site
See Article on Publisher Site

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

Journal

Journal of Property Investment & FinanceEmerald Publishing

Published: Feb 13, 2007

Keywords: Property; Investments; Local Authorities; Zambia

References