Determinants Factors Before Developing Real Estate
Real estate development is now increasingly prevalent in many parts of Indonesia, especially in big cities in Indonesia. Development is certainly not independent of more conducive conditions for today’s economy. Real estate development process involving multiple stakeholders, from developers, planners, contractors, banks, government, and society. All parties must mutually support each other so that the real estate development in an area or location can be run with so indirectly also will encourage the movement of advanced economies and local communities. In terms of development larger real estate developers to connect to the existence or the developer. Developer itself is an individual, entrepreneur or legal entity that is engaged in the business
in terms of the construction of buildings for investment purposes. Context developers greatly influences include the work in economic terms as a result of a project planners must take into account factors economist of the project. These factors are very important to the success of a project implementation, in addition to these factors is also the most difficult factor to be considered for the planner, given that these factors not only tends to affect every aspect of suatuproyek but also often a factor that severely limits , in other words factors economist is a benchmark.
Development Approach
The nature of real estate development continues to change. If budget problems as a primary factor affecting, then in addition there are other factors must be taken into account. Current development approach includes attention to four factors that influence the success of a development project, namely:
1. Alternative land use
2. Marketing Infrastructure
3. Cooperation between government and the private sector
4. The cost of survival and tax consequences
The factors mentioned above must try to be combined with each other and aligned in order to supporting a development project. Developers are the key in the development process. Developers can initiate the development process by using the services of consultants to help determine the feasibility of the project, providing funding and seek sources of financing, signing contracts, administering licensing, will have the final responsibility of building design and the selection of construction, bahkann about the rules of ownership, leasing and management of facilities.
Many developers who specialize in certain types of projects such as office buildings, hotels, housing or shopping malls, many who specialize padapercampuran some building products. In the construction process there are three phases of development:
1. Preparation of development activities.
2. Implementation of development
3. Management and survival
That must be observed before construction begins before construction begins, construction preparation activities previously carried out. These activities include site selection or site and determination of project feasibility. This is what must be observed very well in planning the construction of real estate or any property products. these things have some important points that determine keberhasialn atupun a real estate development property products, among others:
1 Selection of Place
This is a major work for developers or planners when trying to find a suitable location for the project will be built in a way mneyeleksi number of locations and where there are few most important criteria in selecting a location or place:
a. Legal and environmental
By looking at whether the law or regulations permit the establishment of building
buildings of a certain size or location is. Such as parking requirements, outbreaks
(Coefficient Floor Building), etc..
b. Means
A later project will require the installation of running water, electricity, telephone, sewer whether
Overall this is available? Is it still necessary improvements again? this is also to be seen.
c. Technical Factors
By looking at how the terrain, drainage and topography.
d. Location
This is a very important consideration. By looking at whether there is a market on site
The proposed project? whether the easy accessibility?, whether many vehicle traffic? Case
needs to be known.
e. Aesthetics
By looking at whether there is a good view?. It is worth noting because the
scenery and conditions of the planned landscaping is one aspect that is very
important in order to attract the consumer market or later.
f. Community
By seeing how the public reaction to this development plan, whether to
cause excessive traffic and noise, how to value property at
the area.
g. Cost
By looking at the price of land, whether enabling development to meet the various
existing criteria and also whether it can be reached by the tenants or users of project results
are later
2. Determining Project Eligibility
If the developer has found a place that will be built, then the next is done
deeper observations about the feasibility of the project going. The point is whether the proposed project be seen from the angle that allows the technical, marketing and economics. This observation in depth include:
• The approach to community leaders, developers and officials. It is to see
whether the development plan they can take. This is sometimes neglect to
carried out.
• Take into solving technical problems associated with the place, one of which is
testing on the ground.
• Make a careful market analysis, including demographics anaisis. Can also be done surveys
on the market.
• Choosing an architect who will describe several alternative designs.
• Creating economic projections for the various design alternatives. This is an estimate of the overall
construction costs also include costs of construction, as well as income and expenditure when
project has been completed (Cash Flow).
Some of the things mentioned above are things that must be considered in starting a real estate development property or a product. For the stage before the project was done is to choose the exact location or place. After that is going to look deeper into the feasibility of real estate development or property products later. It was all worth special attention because it would spearhead the success of a development as well as success in marketing as well.
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