Real estate development , or property development is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and sale of developed land or parcels to others. Real estate development is the process of creating value by making tangible improvements to real Property Development. The development process ranges from land speculation and new construction to the renovation of existing buildings.
- How to become a Land Developer:
- One must obtain Bachelor’s degree in the field of Land or Real Estate development.
- Acquire work experience
- Obtain advanced education
- Stages of Property Development:
- Concept Stage
- Town Planning
- Working drawing and documentation
- Process of Development:
Process development scientists aim to optimize the performance of manufacturing systems. They are responsible for identifying and developing new processes for product manufacture, as well implementing process controls to make sure the products are of a high quality and are manufactured in a reproduce manner.
- Phases of Development:
- Idea generation
- Research and development
- Factors affects Real Estate:
Economic indicators effects the most. The strength of the overall economy significantly impacts the real estate market as consumers’ ability to support housing prices largely depends on key factors like GDP, unemployment and income growth.
- Real Estate Agent:
Property development is the process taken up by real estate agents. They provide guidance and assisting sellers and buyers in marketing and purchasing property for the right price under the best terms. Determining clients’ needs and financials abilities to propose solutions that suit them.
The need for Land developmentis constant because of our massive population growth and the changing tastes of how we want to live. Real estate life cycle typically happens in all major real estate markets around the world. It can be divided in to 3 stages: Pre-development stage, Development stage and Developed stage. Land entitlement is necessary for building something. Land entitlement is the legal process of obtaining approvals for your development plans. Entitlements are a legal agreement between you and the governing municipality to allow for the development of a certain building type.
Real estate market supply is created by move-up buyers, who also contribute to demand by buying a new home ; by new home construction; by seniors and other owners who sell to become renters ; by owners who relocate to another market; and by deaths. In the real world of real estate, the rules of supply and demand do not work always well.
Property development is widely regarded as an integrated process revolving around numerous components that link distinct phases in the development cycle.
Development process requires skills of many professionals; architects, landscape, civil engineers and site planners to address project design. The general contractor of the project hires subcontractors to put the architectural plans into action.