The best way of starting a real estate investment is by is by conducting a market study. A market study is conducted by a qualified real estate economist or property investment analyst.
The market analysis will assess strengths, gaps and opportunities for the development. The market analysis helps in refining the project brief or concept by outlining the existing real estate investment opportunities. The market study’s findings are used to design the project whose viability is tested using feasibility analysis.
The scope of a typical market study includes:
- Collection, analysis, and presentation of socio-economic data that influence the real estate market in the study area.
- Analysis of demand and supply of real estate in the subject area.
- Recommendation of the most suitable real estate development to be undertaken on the subject plot/parcel of land.
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