This course provides an introduction to the processes involved in property development in market economics in the context of government regulatory and approval processes. Students are introduced to the range of different actors and stakeholders involved in urban development of different scales, from multinational high-density residential developers to small and medium sized companies operating across different sectors and sub-markets. Topics include the nature and purposes of property development, a brief introduction to real property law, development economics, the regulatory context, and taxation issues. Emphasis is placed on understanding how developers work, how they determine the feasibility of projects and how they engage with the planning system. Students are encouraged to build up an appreciation of the challenges and issues arising from development, government and community perspectives. In exploring feasibility questions, students will develop a hypothetical site and explore feasibility options for its development within relevant planning parameters.
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