Residential Property Project - Essay Example

Residential Property Project Name Course Lecturer Date Residential Property Project Property description The property is very well constructed. It is located at the central of the Geelong estate. It is well and easily accessible with path as well as with vehicle. The property is well developed such that the flats are ready for occupation. To increase the value of the property, they have been insured appropriately. Some of the insurance policy insured in the property is fire insurance policy, critical damage insurance policy and income policy. The income policy will ensure that the owner of the property will still get income when there will be no occupants. These insurance policies increase the value of the property considerably (Chon, 2005). Market opportunity The market in this region is substantially competitive. There are opportunities that the owner of the property can use to develop it as well as to sell to potential customers. One of the biggest opportunities available is that the property is a prime property for sale to potential customers. The property has all the requirements such as insurance, electricity, ample parking, water supply, road connectivity and security. In addition, the area is very secure and serene. This is because most of the property holders in this region prefer their own residential properties instead of rental properties. The area is well supplied with social, economic and environmental amenities that every person would need. There are shopping centres, banks; schools are at a walking distance, insurance companies, and government offices both state and federal government offices. As such, the residents do not need to travel distance to seek services as all they would need is available within the locality (Randolph, 2006). Investment and development opportunities One of the biggest attractions of investors in this region is that the region is the fastest growing localities not only within the state but also in Australia. Potential investors are flocking in this region to purchase property. Many people of all economic class want to settle in this locality. Notably, this region that is has not received interest in the past as it was considered to lack social services. However, this changed when the federal government decided to bring services closer to people. The locality services as the regional head as offices of the government companies and agents are located in this place. As such, this presents a very good opportunity for development. The real estate industry is the best performing in this region. Property developing companies have flocked the locality to tap the increasing number of customers (Easthope & Randolph, 2009). This property is one of the good examples that the property development companies have successfully completed. The property has a very huge area for expansion. As seen in the diagrams above, the property is not a storey building. The foundation of the property has been well developed for up to five floors. As such, the owner of the property can add more floors. This will increase capacity not only for more income but also for better use of resource. The council has encouraged development of more floors; the owner will take the opportunity to develop more floors (Easthope & Randolph, 2009). Residential Property Project Property description The property is very well constructed. It is located at the central of the Geelong estate. It is well and easily accessible with path as well as with vehicle. The property is well developed such that the flats are ready for occupation. To increase the value of the property, they have been insured appropriately. Some of the insurance policy insured in the property is fire insurance policy, critical damage insurance policy and income policy. The income policy will ensure that the owner of the property will still get income when there will be no occupants. These insurance policies increase the value of the property considerably (Chon, 2005). Market opportunity The market in this region is substantially competitive. There are opportunities that the owner of the property can use to develop it as well as to sell to potential customers. One of the biggest opportunities available is that the property is a prime property for sale to potential customers. The property has all the requirements such as insurance, electricity, ample parking, water supply, road connectivity and security. In addition, the area is very secure and serene. This is because most of the property holders in this region prefer their own residential properties instead of rental properties. The area is well supplied with social, economic and environmental amenities that every person would need. There are shopping centres, banks; schools are at a walking distance, insurance companies, and government offices both state and federal government offices. As such, the residents do not need to travel distance to seek services as all they would need is available within the locality (Randolph, 2006). Investment and development opportunities One of the biggest attractions of investors in this region is that the region is the fastest growing localities not only within the state but also in Australia. Potential investors are flocking in this region to purchase property. Many people of all economic class want to settle in this locality. Notably, this region that is has not received interest in the past as it was considered to lack social services. However, this changed when the federal government decided to bring services closer to people. The locality services as the regional head as offices of the government companies and agents are located in this place. As such, this presents a very good opportunity for development. The real estate industry is the best performing in this region. Property developing companies have flocked the locality to tap the increasing number of customers (Easthope & Randolph, 2009). This property is one of the good examples that the property development companies have successfully completed. The property has a very huge area for expansion. As seen in the diagrams above, the property is not a storey building. The foundation of the property has been well developed for up to five floors. As such, the owner of the property can add more floors. This will increase capacity not only for more income but also for better use of resource. The council has encouraged development of more floors; the owner will take the opportunity to develop more floors (Easthope & Randolph, 2009). Residential Property Project Property description The property is very well constructed. It is located at the central of the Geelong estate. It is well and easily accessible with path as well as with vehicle. The property is well developed such that the flats are ready for occupation. To increase the value of the property, they have been insured appropriately. Some of the insurance policy insured in the property is fire insurance policy, critical damage insurance policy and income policy. The income policy will ensure that the owner of the property will still get income when there will be no occupants. These insurance policies increase the value of the property considerably (Chon, 2005). Market opportunity The market in this region is substantially competitive. There are opportunities that the owner of the property can use to develop it as well as to sell to potential customers. One of the biggest opportunities available is that the property is a prime property for sale to potential customers. The property has all the requirements such as insurance, electricity, ample parking, water supply, road connectivity and security. In addition, the area is very secure and serene. This is because most of the property holders in this region prefer their own residential properties instead of rental properties. The area is well supplied with social, economic and environmental amenities that every person would need. There are shopping centres, banks; schools are at a walking distance, insurance companies, and government offices both state and federal government offices. As such, the residents do not need to travel distance to seek services as all they would need is available within the locality (Randolph, 2006). Investment and development opportunities One of the biggest attractions of investors in this region is that the region is the fastest growing localities not only within the state but also in Australia. Potential investors are flocking in this region to purchase property. Many people of all economic class want to settle in this locality. Notably, this region that is has not received interest in the past as it was considered to lack social services. However, this changed when the federal government decided to bring services closer to people. The locality services as the regional head as offices of the government companies and agents are located in this place. As such, this presents a very good opportunity for development. The real estate industry is the best performing in this region. Property developing companies have flocked the locality to tap the increasing number of customers (Easthope & Randolph, 2009). This property is one of the good examples that the property development companies have successfully completed. The property has a very huge area for expansion. As seen in the diagrams above, the property is not a storey building. The foundation of the property has been well developed for up to five floors. As such, the owner of the property can add more floors. This will increase capacity not only for more income but also for better use of resource. The council has encouraged development of more floors; the owner will take the opportunity to develop more floors (Easthope & Randolph, 2009). One of the biggest attractions of investors in this region is that the region is the fastest growing localities not only within the state but also in Australia. Potential investors are flocking in this region to purchase property. Many people of all economic class want to settle in this locality. Notably, this region that is has not received interest in the past as it was considered to lack social services. However, this changed when the federal government decided to bring services closer to people. The locality services as the regional head as offices of the government companies and agents are located in this place. As such, this presents a very good opportunity for development. The real estate industry is the best performing in this region. Property developing companies have flocked the locality to tap the increasing number of customers. One of the biggest attractions of investors in this region is that the region is the fastest growing localities not only within the state but also in Australia. Potential investors are flocking in this region to purchase property. Many people of all economic class want to settle in this locality. Notably, this region that is has not received interest in the past as it was considered to lack social services. However, this changed when the federal government decided to bring services closer to people. The locality services as the regional head as offices of the government companies and agents are located in this place. As such, this presents a very good opportunity for development. The real estate industry is the best performing in this region. Property developing companies have flocked the locality to tap the increasing number of customers. References Chon, M. (2005). Intellectual property and the development divide. Cardozo L. Rev., 27, 2821. Dowling, R. (2005). Residential building in Australia, 1993–2003. Urban Policy and Research, 23(4), 447-464. Easthope, H., & Randolph, B. (2009). Governing the compact city: the challenges of apartment living in Sydney, Australia. Housing Studies, 24(2), 243-259. Randolph, B. (2006). Delivering the compact city in Australia: current trends and future implications. Urban policy and research, 24(4), 473-490. Appendices The property is located and Read More