What is the Real Estate Feasibility Study? Is it really necessary in Abidjan?
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Loading... - Aubin Tize
- 05 Sep 2022
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If you want to develop a property, you will definitely want to have a real estate feasibility study carried out. When you develop a property, the risks are high, the project is complicated and the schedule is unstable. To compensate for this, real estate developers often use feasibility studies to help them assess the situation. The key to success in real estate development is careful planning, and it starts with a study. In this article, we are going to look at what a feasibility study is and why you should consider getting one if you are planning to develop a property.
DEFINITION OF A REAL ESTATE FEASIBILITY STUDY
The real estate feasibility study is the basic analysis and research conducted around the property in question, in order to determine whether the real estate project is viable or not. And to verify if it is a stable and profitable investment. Any real estate feasibility study takes into consideration the following factors:
1. The location of the property;
2. Demographic, socio-political and economic influences;
3. Legal and economic considerations;
4. Weather and environmental conditions;
5. Resource availability;
6. Technical requirements;
7. Market competition;
8. The organizational capacity needed to launch the project.
Thorough and holistic research and analysis of these factors, and their interaction equations, minimize the risk of incorrect projections and decisions that could very well jeopardize the project. Read More...
