A partly urbanized development can look attractive on unit price. The essential question is whether present value compensates for site preparation risk and timelines.
What the market saw
The buyer was evaluating a partly urbanized development in Llanquihue. The price per lot looked competitive against standalone alternatives, yet it had not been weighed against pending site preparation and infrastructure costs, real timelines, and exit liquidity.
What we identified
We evaluated urbanization status, services delivered versus promised, subdivision regulations, comparable sales for serviced land in the sector and—critically—the developer's liquidity position, which shaped the negotiation.
- Status of urbanization works and services
- Co-ownership bylaws and use restrictions
- Comparable sales for serviced land in the area
- Conservative exit value scenario
- Cost overrun and permitting timeline risk
Acquisition strategy
The acquisition was structured on verifiable present value: a negotiated entry price amid seller liquidity pressure, with a conservative post-urbanization value projection—grounded in data rather than project promises.
Result
Acquisition of 4 lots for 4,400 UF in total. Subsequent market reference: approximately 2,000 UF per serviced lot under comparable conditions.
What this means for buyers
In partly urbanized projects, a per-lot price can mask pending costs and timelines. Add purchase price, site preparation, and time—then compare against a conservative sale scenario rather than the developer's brochure.