(18 June 2012, Addis Ababa)--The Addis Ababa City Administration released a new floor price for plots
in the city this week after revising the existing lease rate according
to the market price.
The new prices will be used as a benchmark for plots that are going to
be auctioned by the city government or transferred under the new “Urban
Lands Lease Holding Proclamation.”
The new prices range from 1,686
birr per square meter designated as central market places to 191 birr
that are grouped as expansion places in the city.
The new regulation classified the city into three zones. The first Zone is Central Market District Zone, which is classified in five sets, the first level plot to have a floor price of 1,686 birr per square meter.
The second level is set to be 1,535 birr per square meter, 1,323 birr per square meter for a third level plot, 1,085 birr per square meter for a forth level plot and 894 birr for the fifth level plot. The rate for Central Market District Zone will be applicable in most areas of the city that are considered to be main business areas that entertain high level of business activities.
The second zone, Transitional Zone, will also have five levels. The first level will have a floor price of 1,035 birr per square meter, 935 birr per square meter for the second level, 809 birr per square meter for the third level, 685 birr per square meter for the fourth level, and 555 birr per square meter for the fifth level.
This zone includes places that are surrounding the city and are occupied by mainly residential units and industries. The last and the third zone, Expansion Zone, is classified into four levels and covers areas that are considered to be in the outskirts of the city, where the city is expected to expand in the future.
The first level on this zone will have a floor price of 355 birr per square meter, 299 birr per square meter for the second level, 217 birr for the third level and the last and fourth level will have a floor price of 191 birr per square meter. As of next week, sub cities that have suspended transaction of property transfers waiting for this regulation will resume their work. Read more from Capital »
The new regulation classified the city into three zones. The first Zone is Central Market District Zone, which is classified in five sets, the first level plot to have a floor price of 1,686 birr per square meter.
The second level is set to be 1,535 birr per square meter, 1,323 birr per square meter for a third level plot, 1,085 birr per square meter for a forth level plot and 894 birr for the fifth level plot. The rate for Central Market District Zone will be applicable in most areas of the city that are considered to be main business areas that entertain high level of business activities.
The second zone, Transitional Zone, will also have five levels. The first level will have a floor price of 1,035 birr per square meter, 935 birr per square meter for the second level, 809 birr per square meter for the third level, 685 birr per square meter for the fourth level, and 555 birr per square meter for the fifth level.
This zone includes places that are surrounding the city and are occupied by mainly residential units and industries. The last and the third zone, Expansion Zone, is classified into four levels and covers areas that are considered to be in the outskirts of the city, where the city is expected to expand in the future.
The first level on this zone will have a floor price of 355 birr per square meter, 299 birr per square meter for the second level, 217 birr for the third level and the last and fourth level will have a floor price of 191 birr per square meter. As of next week, sub cities that have suspended transaction of property transfers waiting for this regulation will resume their work. Read more from Capital »
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