Master Market Study Secrets for Property Development Success
Assessing Competitive Landscape
A thorough market study also involves analyzing the competitive landscape. This includes identifying existing and upcoming projects in the area, understanding their pricing strategies, and evaluating their market positioning. By assessing your competition, you can find gaps in the market that your development can fill, offering unique features or better pricing. Websites like Zillow provide insights into local property prices and trends, helping you position your project competitively3.