REAL 555 ASSIGNMENT 3 DEVELOPMENT APPRAISAL (25 marks) Introduction You have prepared a Market Analysis study at REAL 530 dass. You are suggested to use this data (demand, supply, economic outlook, absorption rates etc.) to prepare a property development appraisal at the same area on an empty plot that has the following characteristics: Area 13,000sq.m. (the area is gross - field) Abuts Ka5 planning zone (density is 100%) Assignment Tasks Collect and process data (asking prices and transactions data) in order to estimate the GDV of the Development (3) Use Data from CYSTAT and / or quantity Surveyors to estimate the construction cost (2) Estimate all other costs (5) Use absorption rates to 'correct' the GDV (3) Estimate the MV of the plot (8)| Apply sensitivity analysis (2) Identify the potential risks (2)