ABSTRACT
The complexity of the property development process, involving numerous different professions and the expenditure of large amounts of money often over many years, means that this potentially risk-taking activity requires sophisticated methods of researching market demand and development feasibility before a project proceeds. This has not always been so and some would argue that perhaps not enough developers even now are prepared, or even able, to undertake such work, still relying on hunch or ‘back of the envelope’ calculations.
