Residential Development Land

L

Liamos

Registered User
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Can anyone help with the following query? If for example someone owned residential development land which was worth €1 million a year ago, but due to market conditions is today only worth €750,000, can they revalue the land to €750,000 and use the €250,000 'loss'?
 
only sale prices matter
what something is worth is only notional until a transaction actually takes place
 
It seems like a small reduction in the vlaue. All would depend on location, density and size of site etc.
Can you give more details on why they would be using €250,000 loss? Is it for depreciation purposes on accounts?
 
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