Hi all, here is the situation:
We own an apartment in a residential building abroad since 2008. We lived there for several years and after that it was vacant (not available for rent) until 2021. We turned it into a rental in 2022.
Neither the title nor any other document (tax assessment, city records, etc) specifies the price of the land (or how much is land and how much is building). What I could find is that my apartment corresponds to 1/48th of the land since there are 48 apartments in the condo.
I can estimate the price of the land by comparing available land for sale in the same neighborhood.
My question is: Can I use this estimate land value divided by 48 as the value of the land?
Example: If the land costs M$ 480.000 -> My part would be M$ 10.000. (M as an example currency)
The main issue is that the apartment would be in the M$ 480.000 range.
Land would be only 5%.
