||Overview of Property Development
Working with architects, planners, and surveyors, property developers convert ideas to reality, creating new and revamped properties that fill a need within the community. Property developers scout out potential properties and manage the redevelopment of the building before selling on the finished product for a profit.
Projects can range from residential buildings to larger scale projects like hospitals and schools.
Studying Property Development
While formal study is not a necessity to become a successful property developer, it is certainly an advantage.
There are many different routes available to study, with the most common being a property development degree. There are also a range of property development courses which cover the necessary skills to become a property developer, including courses in property and sustainable development, or a construction degree.
Many of these courses provide both practical and theoretical training, with cadetships or internships on offer. Most have prerequisites of passes in both English and Mathematics in school.
Careers in Property Development
Property developers purchase the land or pre-existing property, develop a suitable design and market the revamped structure, with the ultimate goal of selling the final product for a profit. Developers also handle the necessary legal approval and financing of the development.
Property development is a fluid and fast-moving career, and has potential for great rewards with the right choices in projects.
Although salary for developers will vary depending on the projects they take on, the average income in 2006 was around $70,000. Property developers also have flexibility in their job to work in the office, or in the field.
Skills needed in Property Development
Property developers are required to have good leadership, communication and negotiation skills, as they usually work with other property professionals to get the job done.
Architecture & Planning