MARKET STUDY

P3

Site Particulars
State District Lot Number Area Sub-district : : : : : Penang Island North East LOT 10276 87.77 Hectares Mukim 13 (Bukit Gambier) : Freehold : Near to MOSTI Complex

Land status Location

Source: Novak (1996)

What?
is a scientific process of collecting, gathering, organising, analysing and presenting data for the purpose of understanding the market conditions, trends and potential as an important requirement to produce the best decisionmaking in property development business.

Why?
In real estate/ property activity, it involves the decision-making processes, where each decision-making has the main goal of securing various forms of monetary benefits such as quantity of sales, income, profit, ROI, capital growth and others.

Why?
In terms of real estate/ property development, the market study will be conducted in order to achieve the following purposes: to understand the current market trends to investigate the level of demand and supply of the properties to determine the size of the catchment area to determine the needs and capabilities of the population to identify the development potential

How?
Identifying and understanding the proposed site Reviewing the legal restrictions and development requirements Reviewing the details of market information from secondary resources Proposing and describing the potential project Collecting the primary data Analysing and interpreting the data Producing a market study report

P3a
Provide information based on secondary resources that explain about property market trends, demand and supply of the various types of properties and the property type with the most potential to be developed in Penang Island - A1 in the form of a mind map. Develop a set of market survey questionnaire form A4

P3b
Provide a market study report A4 Distribute the questionnaire form to 150 respondents (at least) within the catchment area Analyse the collected data using SPSS Findings have to be shown in graphical representation such as chart, histogram, graph etc. together with explanation.

The Conditions
Visit the site Choose the most suitable 8 acre area as the proposed site Assume that the site has no zoning requirement and building restriction Housing development is prohibited and no marks will be given.