Why do I need a Market Study
A market study, or market analysis, proivdes guidance for senior housing decision makers involved in real estate development. Simply put, the goal of market analysis is to reduce risk and maximize opportunity by providing timely findings so that the development can be shaped to meet the needs of the marketplace.
For senior housing development, the market study seeks to address three basic questions:
- Will there be senior householders to rent and/or buy in the proposed project?
- If developed, how quickly will the projected be absorbed and what rent or price can I achieve, how many units should be built?
- How can the proposed project be positioned or marketed to make it more competitive?
The market analysis is a valuable planning document that can be utilized throughout the project by the planning team, architect and designer, lender etc. By completing the market analysis early in the planning phases the market study will mitigate risk and provide action-oriented recommendations for making a project successful.
0 Comments
Name and email are required. We promise not to share your email address with anyone.