# Mid-rise development land is more expensive

**Published by:** [Brandon Donnelly](https://brandondonnelly.com/)
**Published on:** 2022-11-23
**Categories:** batory-management, bullpen-consulting, development, development-land, greater-toronto-area, high-rise-land, land-prices, mid-rise-development, mid-rise-land, real-estate
**URL:** https://brandondonnelly.com/mid-rise-development-land-is-more-expensive

## Content

As is the case every quarter, Bullpen Research & Consulting and Batory Management have just published their latest Greater Toronto Area land insights report (for Q3-2022). The average price per buildable square foot (pbsf) in this report remains the same as in Q2 at $95. But once again, it's important to keep in mind that this represents a fairly small sample size (34 land sales in the quarter versus 46 in Q2); that the range in land pricing can be significant across the GTA (here it is $24-274 pbsf); and that there can sometimes be a lag between a deal being struck and actual closing. Here is the summary data: Another interesting data point from the report is land price compared to building height. The average price for high-rise development land was $88 pbsf, and the average price for mid-rise development land (5-15 storeys) was $131 pbsf. This once again speaks to the cost differential between high-rise and mid-rise housing. The mid-rise scale is certainly a desirable form of infill, but it is also a more expensive form of housing.

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