ASSIGNMENT 3 DEVELOPMENT APPRAISA
Introduction
You have prepared a Market Analysis study at REAL 530 class. You are suggested to use this data (demand, supply, economic outlook, unemployment, absorption rates etc.) to prepare a property development appraisal at the same area on an empty plot that has the following characteristics:
Area 10,000sq.m. (the area is gross - field)
Abuts Ka5 planning zone (density is 100%)
Assignment Tasks
Collect and process data (asking prices and transactions data) in order to estimate the GDV of the Development
Use Data from CYSTAT and / or quantity surveyors to estimate the construction cost
Estimate all other costs
Use absorption rates to ‘correct’ the GDV
Estimate the MV of the plot
Apply sensitivity analysis
Identify the potential risks
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