A development site encompasses a range of property types, including raw land, improved land, or land with existing buildings situated on it - regardless of the type of configuration of the land, value can be added through subdivision, demolition, remodeling, land banking or construction of real property.
Choosing the most suitable development site or area to develop your property is critical to the overall success of your property. The number one component in any development site should always be market research.
Property developers and investors purchase sites with existing council approval in order to avoid lengthy delays and uncertainty - a process aptly entitled risk mitigation or minimisation. Purchasers are generally willing to pay over market value for these sorts of properties given the ability for immediate construction activity and pre-sales marketing to occur.
Obtaining development approval can greatly appreciate the value of land. Costs of development sites vary heavily from location, size, potential yield and resales.
Australian development sites are experiencing unprecedented demand from both local and international investors, yet finding these lucrative properties can be a challenging experience for both buyers. By visiting developmentready.com.au, buyers are able to browse through hundreds of development projects from across Australia within an intuitive, single interface designed from the ground up.
Based on our recent website statistics these suburbs are the most popular Doncaster East, Doncaster, Abbotsford, Brunswick, Hawthorn, Kew, Coburg, Camberwell, Glen Iris, Box Hill, Melbourne, Ringwood, Balwyn, Preston, Richmond, Coburg North, Ascot Vale, Croydon, St Kilda, Fitzroy, Altona, Brunswick East, Mount Waverley, Reservoir, Port Melbourne, Carnegie, Burwood, Boronia, Mckinnon, Kew East, Berwick, Frankston, Yarraville, Eltham, Hawthorn East, Ashwood, Dandenong, Blackburn South, Ringwood East, Epping
Like most investments, there are pro’s & con’s for investing in both commercial or residential properties.
Whilst commercial property investment often boasts a higher return on investment, there is also a higher risk of vacancy.
In residential property development, there is typically a reasonable to strong level of demand depending on the economic climate, however there also exists greater competition within the market for each project, meaning buyers have a range of projects to choose from when considering their next purchase.