Develop building land. Profitability test for beginners?

Hello dear people,

I just registered because I have a few questions and hope you can help me with them!

First about the situation:
A few years ago, I inherited an agricultural plot of land in Saxony. I live in southern Germany myself, so I am not very familiar with the area. Now, a partial area of about 3000 sqm has been designated as [Bau-erwartungsland] in the land use plan. As far as I understand, this area could significantly increase in value through the adoption of a development plan and possibly through infrastructure development, and I could sell it.

A local real estate agent said that prices for developed building land there are around plus/minus 30 euros.

To be able to estimate whether it makes sense overall and that I won’t end up losing money, I would like to roughly determine what the whole thing will cost me.
I know that this depends on many factors. The real estate agent of course says that it is worth it – but he also wants to earn something. Therefore, I trust him very little.

So my question is whether there is any kind of independent consulting for such projects, someone who is not involved in the measure itself and could support me for a fee. And for example, could carry out a profitability analysis.

Maybe you know a good book that I could read as a beginner to better understand the whole process of the development plan and the infrastructure development?
Do you have any ideas? Or tips? (also for good websites?)

Thanks already for your help!
Regards, Wobbbel

A knowledgeable expert knows that ... €30 is a bargain for many in rural Saxony. Have you ever been on site and allowed yourself a neutral judgment on whether you or a third party would build on this property? Just have a chat with the locals. You don't want to disclose the location?

If it has now become land with development potential, it will probably take years before anything can actually be built there.

No no, if it is already named like that in the F Plan, then you can get started: 1) Approach the municipality. What does it want? Develop it yourself and establish a B Plan? Then it has to buy from you. 2) Receive the B Plan and development and approve it? Then you can do it yourself or sell to a developer. These would be civil engineering companies, or even banks, Volksbanken do that. 3) Price: There should be an appraisal committee in the district that could make a value appraisal for a fee. That would be fairly neutral. Karsten

If you were studying architecture, civil engineering, or surveying, that would be a great exercise to gain practical experience. But then you probably wouldn't have started this thread.

In the case of an economics degree with the intention of also dealing with land development in the future, familiarizing yourself with the topic could still make sense.

As a one-time project, 3000m² at such low land values are not suitable for making a profit, let alone getting rich. Even professionally experienced graduates of the above-mentioned courses are often overwhelmed by practical implementation or fail due to bureaucratic slowness. With full development, your 3000m² are just worth €90,000. How much will be left when independent consultants have to be paid in addition to the professionals?

If you don't urgently need the money, wait until the municipality drafts a development plan and sell the finished building plots.

If there is demand. As said, in the East German federal states there are boom regions. Those who offer 5-30€/sqm do not belong to them. Before taking any action, first explore the situation. Have a nice weekend, go to the tavern and start conversations. In the end, no one wants to build there.