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Classified in Economy

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The property developer is in the business of supplying buildings at a profit
Marketing is defined as satisfying customers profitability
Marketing identifies four elements in the marketing mix: product, price, place and promotion
The product has to meet the requirements of the eventual customer, and to be offered at a price which the customer is willing to pay
Developers have to compete with other suppliers in terms of location (place), building quality, and terms (including price) at which the product is offered.
If the developer offers and promotes a superior location and/or buildings, the price can exceed the alternatives on offer

Location
Type, size and layout of the buildings
Design and detailed specifications of the accommodation and its various services

Property development may be defined as the process by which buildings are provided, whether for use and occupation by the owner or for sale or lease to another party
Financial returns will be the dominant consideration in undertaking property development
Developments will be promoted when and where the realizable value from the finished project exceeds total costs and leaves sufficient margin for profit on sale, or adequate income return when the investment is retained
Property development involves considerable risk and uncertainty, so profit must be sufficient to cover the risks which are accepted

1) Land cost and acquisition cost
2) Pre-construction period
3) Interest rate
4) Area of building (GFA)
5) Construction cost and professional fees
6) Construction period
7) Cost of disposal
8) Sale price/rental income
9) Profit

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Marketing