Marketing research of the real estate market. Goals and objectives
Introduction
Applications
Bibliography
Introduction
Among the elements of a market economy, a special place is occupied by real estate, which acts as a means of production (land, administrative, industrial, warehouse, retail and other buildings and premises, as well as other structures) and an object or object of consumption (land plots, residential buildings, cottages, apartments, garages). Real estate is the basis of personal existence for citizens and serves as the basis for economic activity and development of enterprises and organizations of all forms of ownership. In Russia, there is an active formation and development of the real estate market and an increasing number of citizens, enterprises and organizations are involved in real estate transactions.
Real estate is the main subject of discussion during the privatization of state and municipal property, the lease of non-residential premises, and the purchase and sale of residential premises. A layer of new owners of real estate has appeared both in the sphere of personal consumption and in many areas of entrepreneurial activity. Formed commercial structures operating in the real estate market.
The activity of domestic and foreign investors is developing, for which the acquisition of guaranteed rights to use land and the legal protection of their interests is of great importance. Local legislation began to develop to regulate the real estate sector.
In this work, I will also try to consider various aspects of choosing a home and what factors are priority when choosing a home, what is the “fair price” for housing according to buyers and some other issues.
The concept of real estate and its types
The term "real estate" appeared in Russia in the 17th century, but there is no exact definition of it anywhere. According to the Civil Code of the Russian Federation, immovable things (real estate, real estate) include land plots, subsoil plots, isolated water bodies and everything that is firmly connected with the land, that is, objects that cannot be moved without disproportionate damage to their purpose, including forests, perennial plantings, buildings, structures. Immovable things also include aircraft and sea vessels subject to state registration, inland navigation vessels, and space objects.
Other property may also be classified as immovable by law. So, for example, the enterprise as a whole as a property complex is also recognized as real estate. According to the Civil Code of the Russian Federation, an enterprise is not considered as a subject, but directly as an object of civil rights. The enterprise as a whole or part of it may be the object of sale, pledge, lease and other transactions related to the establishment, change and termination of rights in rem. An enterprise can also be inherited.
The economic characteristics of real estate include its rarity (there are no absolutely identical real estate objects); the cost of adjacent land, buildings (for example, the construction of hazardous production); territorial features (a change in territorial preferences can increase the value of real estate without physical changes), purpose (as a rule, it cannot be changed without significant costs).
Real estate falls into three main types: land, housing and non-residential premises.
Depending on the nature of use, real estate is divided into those used for housing (houses, cottages, apartments), for commercial activities (hotels, office buildings, shops, etc.), for production purposes (warehouses, factories, factories, etc.). ), for agricultural (farms, gardens) and special purposes (schools, churches, hospitals, nurseries, nursing homes, etc.).
Real estate market: concept, subjects and factors of formation
Market - a way of interaction between sellers and buyers; the totality of existing and potential buyers of the product. Real estate is a special commodity, as its characteristics are not typical of other goods. The real estate market is a set of relations around operations with real estate objects (sales, purchases, leases, pledges, etc.).
The main features of the real estate market are:
· the local nature of the real estate market (reducing the number of possible transactions due to a specific location);
Uniqueness of all plots of land (involves a difference in prices);
low liquidity of real estate compared to other goods (due to the need to involve legal institutions in transactions);
discrepancy between the high price and the financial capabilities of buyers, which requires a loan in most cases;
· Variation in prices due to incomplete awareness of sellers and buyers.
According to the functional purpose of objects, the real estate market is divided into 4 main components:
land market (land plots),
housing market,
the real estate market,
the industrial real estate market.
You can also highlight the market for unfinished objects and hotel services.
The main subjects of the real estate market along with the owners and users of real estate (which can be individuals and legal entities) are: banks, construction organizations (contractors), real estate firms, law firms, insurance companies, property management committees, technical inventory bureau, arbitration court, notary offices, tax inspections.
In connection with the development of the real estate market, there was a need for appraisal activities. Appraisal activity is the activity of a person (appraiser) subject to licensing, which consists in establishing by him, in relation to the object being evaluated, using special rules and methods, the market or other value of real estate.
The development of the real estate market is facilitated by the free transfer of ownership of real estate. It should be noted that according to the Civil Code of the Russian Federation, mandatory notarization of real estate transactions is required. The creation of homeowners' associations (associations of homeowners for the purpose of joint operation) has begun.
In general, the formation of the domestic real estate market can be characterized by the following factors:
Macroeconomic instability (it is impossible to foresee regulations, the adoption of which is determined by the political situation).
Inflation. On the one hand, investment activity and the development of a normal system of mortgage lending are declining, and on the other hand, due to the limited availability of more liquid and profitable areas for investing in real estate investments, they are attractive.
Blurring of the legislative framework.
Lack of special services for collecting and analyzing information, which makes the information space opaque.
Low professionalism of real estate market participants (little work experience, uncertainty of the legislative framework).
Uneven development of segments of the real estate market (the most massive is the housing market).
With the transition of Russia to market relations, real estate becomes a commodity, and the real estate market is gaining momentum. Uncertainty of land ownership, inflation and other factors mentioned above affect the development of the Russian real estate market.
The current state of the Moscow real estate market
Analyzing the dynamics of prices for new buildings in Moscow over the past year, experts note: at the end of 2009, the cost of apartments in new buildings has risen significantly. In general, prices for Moscow new buildings for the year increased by 6.7% in dollar terms and by 14.2% in ruble terms. By December 2009, the offer price at many facilities reached 180 thousand rubles per square meter, and this mark was the highest in the last few years.
Apartments in new economy class buildings were the first to be sold out; As practice has shown, small apartments in modern new buildings in Moscow are in high demand, even if we are not talking about the central districts of the capital. Apartments in Marfino and South Tushino, which were offered for sale at a price of 75-100 thousand rubles, found their owners at the stage of building houses. Today, such proposals, if they occur, are already at a price above 100 thousand per square. And it is precisely with the "washout" of the most liquid offers for new buildings that the specialists of the real estate company "NDV-Nedvizhimost" attribute the last year's rise in housing prices.
Analysts announced the coming shortage of housing at the end of 2008. Today it becomes clear that the forecasts were confirmed: last year, developers did not enter the market with new projects, but directed all their efforts towards completing the construction of previously started houses. In addition, about 80% of Moscow's new buildings were frozen at the pre-project stage, under the influence of a difficult economic situation.
Q: what can the buyer expect from the market?
The beginning of 2010 was marked by the fact that the signs of a housing shortage were very clear. The volume of commercial and social construction has fallen sharply, and today it is not so easy for buyers to find a vacant apartment in a new building in Moscow in a suitable area. In addition, in Moscow, the reconstruction of old housing blocks has practically ceased.
The economic situation has made its own adjustments to the scheme of interaction between the city administration and investors. If earlier the construction of housing for those who are on the waiting list and for residents of houses being demolished was partly financed by the administration, and partly transferred by investors to implement social programs, now the mechanism has changed. In recent years, investors prefer to pay with money, and the off-budget source of replenishment of the municipal fund will thus soon dry up. The finances that come from investors do not have a designated purpose, and very soon the city will have to take over almost 100% of social new buildings in Moscow (whereas previously the city's share ranged from 30% to 50% of funding).
In the coming year, it is planned to spend 204 billion rubles on capital construction, and only 17% of these funds will be directed to housing programs. The city authorities intend to finance the construction of 56 new houses, and the bulk of the apartments in them will be provided to beneficiaries and residents of "Khrushchev" buildings planned for demolition.
Forbes and Expert magazines have published ratings of Russia's largest companies, which differ both in terms of sample size and company selection criteria. If the rating of the Expert magazine included ALL the largest companies in Russia, then the Forbes magazine included only those companies whose shares are not listed on the stock market. First of all, these are closed joint-stock companies, limited liability companies and groups of companies that conduct a common business and are controlled by a common owner. As part of the Forbes magazine rating presented, companies were ranked by revenue received in 2006. Revenue data was provided by the companies themselves.
According to the Forbes magazine rating, the first place in the field of industrial and infrastructure construction was taken by Globalstroy-engineering, one of the participants in the Sakhalin-2 project; 3, 4 places in the rating of the magazine Expert, respectively).
The Expert-400 rating includes 22 construction companies and one real estate company - Miel-Real Estate. The Forbes rating includes 19 companies and 3 real estate companies - Miel Real Estate, Inkom and MIAN.
Metrinfo.Ru poll results
Popular opinion: the price is more important than the brand
Online real estate magazine Metrinfo.Ru conducted a sociological study on the purchase of housing in the primary market.
First, Muscovites were asked: “Please imagine a situation where you are going to buy an apartment. Say you:
would do everything on their own (find suitable housing, draw up documentation ....);
would use the help of acquaintances or friends;
use the services of a private broker;
would you go to a real estate agency?
6% of the surveyed Muscovites have chosen a real estate agency;
3% would buy a new building on their own;
1% would use the help of friends and acquaintances;
% would trust a private broker;
% would go "the other way".
Then the following question was asked: “Imagine that you had to choose: to buy a house from a large company with a well-known name, but a little more expensive or from an unknown one, but cheaper? Which company will you choose? At the same time, it was clarified that both companies guarantee the legal purity of the transaction to the buyer.
4% chose an unknown company;
3% settled on a well-known company;
2% would have acted differently;
1% found it difficult to answer this question.
Popular opinion: 30-60 thousand rubles. - price of available meter
What should be the price of "people's" housing. The online real estate magazine Metrinfo.Ru asked the residents of Moscow directly about this. A sociological study was conducted and it began with the question: "What should be the cost of a square meter in Moscow in order to become affordable for citizens?" Several options for this value were offered to choose from.
The poll results were as follows:
Up to 30 thousand rubles were named by 20% of the respondents;
60 thousand rubles was chosen by 44%;
80 thousand rubles - 31%;
more than 80 thousand rubles - 5%.
Popular opinion: how do discounts affect the decision of the buyer?
“Do you think discounts are real savings or tricks of sellers? Or maybe they do not have real economic benefits, but they encourage people to buy? ”, - such an ornate question was asked to people. Well, so that they would not get confused, the answers were offered:
Discounts are real savings;
Discounts are sellers' tricks;
Discounts have no real economic benefit, but an incentive to make a purchase.
% of the respondents (slightly less than half of the survey participants) believe that discounts are the tricks of sellers who always and everywhere derive complete benefit for themselves;
% believe that discounts have no real economic benefit, but, indeed, can become an incentive for the buyer;
% are confident that discounts are real savings;
% have a different opinion;
% found it difficult to answer.
Popular opinion: 6 acres near Moscow are better than the Turkish coast
Metrinfo.ru magazine conducted a sociological study on this topic. The question was asked: “Imagine, please, the situation - you have a certain amount of money and you have a choice - to buy a house in the suburbs or for the same money, but housing abroad. What would you prefer?"
2% of respondents would buy a house in the suburbs (difference from last year's figure is only 0.5%)
2% - would buy a house abroad;
6% found it difficult to answer.
Popular opinion: who wants to live on top?
“Would you personally like to live in a high-rise?” - asked the residents of Moscow.
No - 58% of respondents answered us;
Yes - said 42% of respondents.
Then, those who would like to live in a high-rise building were asked on which floor they would like to live. It turned out that:
3% are impressed by the height from 1 to 9 floors;
9% - settled on numbers from 10 to 19 floors;
9% - preferred frames from 20 to 29 floors;
9% of respondents chose the range from 30 to 40 floors;
4% - agree to live on any floor.
Popular opinion: Muscovites are not ready to change the capital to the suburbs
To begin with, they asked the general question “Are you satisfied with your living conditions?”.
"No" - answered 37.7% of the respondents;
"Yes" - say 62.3% of respondents.
Then the second question followed: “Would you agree to exchange (without financial costs) your apartment in Moscow for an apartment with an area twice as large, but in the Moscow region? (from 15 to 30 km from MKAD)”. Let us explain why we chose such a distance from Moscow: in this zone, prices are approximately two times less than in Moscow. Closer to Moscow - the cost increases, and the proposed operation can no longer be carried out.
Here is how the survey participants answered this question:
“Definitely yes” - 1.8%;
“Rather yes than no” - 5.3%;
“Rather no than yes” - 17.5%;
"Definitely - no" - 75.4%.
Popular opinion: real estate will save money
“Have you heard that during the crisis, apartments in Moscow began to get cheaper?”, - asked the first question to the survey participants.
No, this is the first time I hear about it - 55% of respondents told us.
Yes, I heard (a) - confirmed 45%.
The next question was: “Earlier (before the crisis) it was considered very profitable to invest in real estate, but now? How do you think?".
Yes, it is beneficial, - 56% of the survey participants answered so;
no, not profitable - said 14%;
30% found it difficult to answer.
real estate market
“In addition to real estate, people prefer to keep savings in bank accounts from inflation, keep cash, buy jewelry, buy shares in a company. What do you think is the best way?" - Muscovites were asked further. Here's the layout we got:
on a bank account - 27.1% said so;
in real estate - 25.7%;
in shares of enterprises - 14.3%
in precious metals, stones - 11.4%;
I have no savings - 4.7%;
in cash - 2.9%;
other - 7.1%;
found it difficult to answer - 7.1%.
The results of surveys of students of the Financial Academy (17-19 years old)
50 students were interviewed. 16 questions were asked. And here is the result.
3.What should be the cost per square meter in Moscow in order to become affordable for the citizens? Several options for this value were offered to choose from.
· Up to 30 thousand rubles
31-60 thousand rubles
61-80 thousand rubles
· more than 80 thousand rubles
7.If so, on which floor would you like to settle (only those who answered the previous one in the affirmative gave answers to the question).
· height from 1 to 9 floors;
from 10 to 19 floors;
from 20 to 29 floors;
from 30 to 40 floors;
· "Definitely yes"
· "Rather yes than no"
· "More likely no than yes"
· "Definitely not"
· on a bank account
in real estate
· in company shares
· I don't have savings
· in cash
other
· found it difficult to answer
13. Your gender
14.Number of people in the family
15.What will be a priority for you when buying an apartment
16.Name construction companies you know.
Summarizing all of the above, several conclusions can be drawn. Real estate includes objects, the movement of which is impossible without disproportionate damage to their purpose, including forests, perennial plantings, buildings, structures. The real estate market is a set of relations around operations with real estate objects (sales, purchases, leases, pledges, etc.). The development of the real estate market is facilitated by the free transfer of ownership of real estate. With the transition of Russia to market relations, real estate becomes a commodity, and the real estate market is gaining momentum. Of course, both market segmentation and product positioning are all just tools that are used to achieve the main task - making the best economic decision that brings the maximum income to the entrepreneur. Their significance lies primarily in the fact that the physical characteristics (quality) of the created (sold) objects correspond to their economic characteristics (price, income) and the perceptions of consumers of the objects proposed for sale. By 2010, customers began to gradually return to the market: developers began to regulate the market, reducing construction volumes.
We can also draw a conclusion about what factors are decisive when buying a home, especially economy class.
Applications
Dear respondent!
Our organization conducts marketing research in order to identify the preferences of buyers in choosing and buying cellular real estate. We ask you to take part in the survey and answer the questions posed in the questionnaire. The questionnaire is anonymous, last name, first name and patronymic should not be indicated.
Thank you in advance for your help!
1.“Imagine, please, a situation where you are going to buy an apartment. Say you:
· would do everything on their own (find suitable housing, draw up documentation ....);
· would use the help of acquaintances or friends;
· use the services of a private broker;
· would you go to a real estate agency?
2.Imagine that you had to choose: to buy a house from a large company with a well-known name, but a little more expensive or from an unknown one, but cheaper? Which company will you choose? Both companies guarantee the buyer the legal purity of the transaction.
3.What should be the cost per square meter in Moscow in order to become affordable for the citizens?
· Up to 30 thousand rubles
31-60 thousand rubles
61-80 thousand rubles
· more than 80 thousand rubles
4.“Do you think discounts are real savings or tricks of sellers? Or maybe they have no real economic benefit, but they encourage people to buy?
· Discounts are real savings;
· Discounts are sellers' tricks;
· Discounts have no real economic benefit, but an incentive to make a purchase.
.Imagine, please, a situation - you have a certain amount of money and you have a choice - to buy a house in the suburbs or for the same money, but housing abroad. What would you prefer?
6.“Would you personally like to live in a high-rise?”
.If so, which floor would you like to stay on?
· height from 1 to 9 floors;
from 10 to 19 floors;
from 20 to 29 floors;
from 30 to 40 floors;
· agree to live on any floor.
8.Are you satisfied with your living conditions?
9.Would you agree to exchange (without financial costs) your apartment in Moscow for an apartment with an area twice as large, but in the Moscow region? (from 15 to 30 km from MKAD)
· "Definitely yes"
· "Rather yes than no"
· "More likely no than yes"
· "Definitely not"
10.Have you heard that during the crisis, apartments in Moscow began to get cheaper?
11.Previously (before the crisis) it was considered very profitable to invest in real estate, but now? How do you think?
.In addition to real estate, people prefer to keep savings in bank accounts from inflation, keep cash, buy jewelry, buy shares in a company. What do you think is the best way?
· on a bank account
in real estate
· in company shares
· in precious metals, stones
· I don't have savings
· in cash
other
· found it difficult to answer
13. Your gender
14.Number of people in the family
15.What will be a priority for you when buying an apartment (arrange the numbers based on the values 1 is the most significant, 8 is the least significant):
· Price (how low or vice versa high price justifies everything, for example, low justifies possible disadvantages)
· The apartment itself (planning, renovation, if any, purely psychological sensations)
· The view from the windows (how priority is it, for example, if the apartment suits you, the house is not bad, but the view is not a fountain, or vice versa, the apartment is average, but the view is super)
· House (the house itself, neighbors, entrance)
· Neighborhood (which is around the house, there are all sorts of sites or parks or shops available)
· Area (infrastructure, how important is the proximity of kindergartens and schools for children, if you have already decided, for example, with a garden and a school and they suit you, they are ready for some kind of offer to break to the other end of the city, where everything is different and you don’t navigate there + transport accessibility of the center and exits from the city)
· The proximity of the metro (it doesn’t matter if you have a car or not, but suppose you don’t have it and there is an option to walk to the metro for 10-15 minutes or go by transport)
· The liquidity of the apartment (if, for example, you might sell it, now it suits you as an option for you, but how liquid will it be in 5 years)
16.Name the companies you know in the construction industry.
Socio-demographic portrait of respondents
gender % of the total number of men 66 women 34 number of people in the family 223364445126472
Bibliography
1. Civil Code of the Russian Federation
2.
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Marketing research is one of the fundamental functions of marketing. Marketing research is a systematic and objective identification, collection, analysis, dissemination and use of information to improve the efficiency of identifying and solving marketing problems (opportunities).
Marketing research is concerned with making decisions on all aspects of marketing activities. Research is aimed at studying the internal and external environment of the organization. The basis for the classification of marketing research of the external environment is their division according to the objects of research into target and market ones. Target marketing research (research of consumers, goods, competitors, etc.) is carried out to solve any specific tasks of the organization, for example, to highlight the target market segment. Market research is carried out in order to study the main parameters of the market, which, in turn, is characterized through a system of quantitative and qualitative indicators (Table 1).
Table 1 - Main areas of market research
|
Type of marketing research |
Main directions |
|
Demand study |
Studying the volume, structure and dynamics of demand; research of consumer requirements and preferences; study of elasticity of demand |
|
Studying the offer |
Study of the volume, structure and dynamics of supply; study of the production and raw material potential of the proposal; study of supply elasticity |
|
Price study |
Study of the price level prevailing in the market; study of price dynamics for a certain period of time; study of the main price trends |
|
Market research |
The study of the situation that has developed in the market under the influence of the following conjuncture-forming factors: supply of goods, demand for goods, market balance, market scale, etc. |
|
Studying the processes taking place in the market |
Study of market characteristics, business activity trends, market capacity and company share in it, study of market conditions, etc. |
In the conditions of recovery after the global economic crisis, issues related to the study of the real estate market, as one of the most affected as a result of the current conditions, are becoming increasingly relevant. At the same time, it is necessary to start with the definition of real estate, as such, and consider the features of the market under study.
Consider the modern understanding of real estate in Russia, and the features of its interpretation. The Civil Code of the Russian Federation acts as the fundamental basis for the definition of real estate, which refers to immovable things (real estate, real estate) the following objects: land plots, subsoil plots and everything that is firmly connected with the land, that is, objects that cannot be moved without disproportionate damage to their purpose , including buildings, structures, construction in progress. Immovable things also include aircraft and sea vessels subject to state registration, inland navigation vessels, and space objects. Other property may also be classified as immovable by law.
In this paper, we consider real estate not from the point of view of legislation, but according to the definition adopted in the professional literature on economics and marketing - these are land plots and everything that is firmly connected with them, the movement of which is not possible without destruction or loss of their functions. Based on this definition, real estate, based on its origin, is broadly divided into: artificial objects (buildings), which include residential, commercial and non-commercial real estate; natural (natural), which refers to the earth.
Consider this division of real estate (table 3).
Table 3 - Classification of real estate objects
In practice, there is a distinction between the concept of real estate as a physical (material) object and as a complex of economic, legal and social relations that provide a special procedure for disposing of it and a special stability of rights. Accordingly, it is customary to distinguish four concepts of real estate (Figure 1).
Figure 1. Four real estate concepts.
Real estate belongs to the category of goods. It can act both as a consumer product (apartments, premises, buildings, non-industrial facilities) and as an industrial product (premises, buildings, industrial facilities). At the same time, real estate objects have unique characteristics that distinguish them from other goods (table 4).
Table 4. - General characteristics of real estate objects.
|
Characteristic |
Description |
|
Utility |
Satisfies the needs of the buyer in residential or industrial space, in the comfort and environmental friendliness of the premises, in prestige, etc. The usefulness of the object is determined by such characteristics as the size of the premises, layout, landscaping of the surrounding area, location, etc. |
|
fixed location |
It determines the uniqueness of each property, largely determines its economic characteristics and market positioning |
|
Uniqueness (uniqueness) |
Each real estate object has certain characteristics peculiar only to it, which distinguish it from others. |
|
Two-component |
Any real estate object consists of two components - land and buildings (structures), for different types of real estate and different economic conditions, the ratio of these components, both in value and in physical terms, can be different |
|
Unconsumable |
The natural form is not consumed, it is preserved throughout the lifespan |
|
Durability |
The earth theoretically has an infinite lifespan and does not wear out. Buildings and structures have a limited lifespan compared to land. However, compared to the vast majority of other goods, buildings and structures are relatively durable. |
|
fundamentality |
Real estate is a commodity that cannot be lost, stolen, or broken under normal conditions. |
The circulation of real estate, like any other commodity, is carried out on the market and is closely connected with the attraction of financial capital and labor. At the same time, the real estate market is a market of limited resources, sellers and buyers. Consider the understanding of the real estate market by various authors (Table 5).
Table 5. - The concept of the real estate market.
|
Definition of the real estate market |
|
|
V. A. Goremykin |
This is a set of organizational and economic relations, a means of redistributing land plots, buildings, structures and other property between owners and users by economic methods based on competitive supply and demand. |
|
S. V. Grinenko |
This is a mechanism by which interests and rights are combined, real estate prices are set. |
|
N. Ya. Kolyuzhnova, A. Ya. Yakobson |
This is a system of actions and mechanisms for making transactions, or, in other words, a subsystem of the general economic market associated with the circulation of rights to real estate. |
|
K. I. Safonova, I. A. Andreeva |
This is a set of relations associated with the creation of new real estate objects, with the operation of existing ones, as well as relations arising in the course of various operations carried out with real estate. |
|
A. V. Sevostyanov |
This is a sector of the national market economy, which is a combination of real estate objects, economic entities operating in the market, market functioning processes, that is, the processes of creating, using and exchanging real estate objects and managing the market, and mechanisms that ensure the functioning of the market (market infrastructure). |
It most fully reflects the essence of this market and, at the same time, the definition of the real estate market given by A. V. Goremykin is presented in an accessible form.
The real estate market has a branched structure, and, based on various features, is divided into a number of narrower markets (Table 6).
Table 6. - Classification of real estate markets.
|
Classification sign |
Market types |
|
Object type |
Land plots, buildings, structures, enterprises, premises, property rights, other objects. |
|
Geographical (territorial) |
Local, city, regional, national, world. |
|
Functional purpose |
Industrial premises, housing, non-industrial buildings and premises. |
|
Degree of readiness for operation |
Existing facilities, construction in progress, new construction. |
|
Participant Type |
Individual sellers and buyers, resellers, municipalities, commercial organizations. |
|
Type of transactions |
Purchase and sale, lease, mortgage, rights in rem. |
|
Industry belonging |
Industrial facilities, agricultural facilities, public buildings and others. |
|
Type of ownership |
State and municipal facilities, private. |
|
Transaction method |
Primary and secondary, organized and unorganized, exchange and over-the-counter, traditional and interactive |
The following operations are carried out in the real estate market using market mechanisms:
- - with a change of ownership - purchase and sale of real estate; inheritance; donation; exchange; ensuring the fulfillment of obligations (realization of mortgaged or seized real estate objects);
- - with a partial or complete change in the composition of owners - privatization; nationalization; change in the composition of owners, including with the division of property; bankruptcy (liquidation) of economic entities with the sale of the property of the owners;
- - without change of ownership - investing in real estate; real estate development (expansion, reconstruction, new construction); pledge; rent; transfer to economic management or operational management, to gratuitous use, to trust management, etc.
The real estate market has a great influence on all aspects of society through a number of functions (Figure 2).
Figure 2.- Main functions of the real estate market.
Three more additional functions have been added to the main functions inherent in all markets - regulatory, stimulating, pricing, intermediary, informational and sanitizing in the real estate market - investment, commercial and social. The commercial function is to form the consumer value of real estate and receive a return on invested capital. The investment function allows you to save and increase your capital by investing in real estate. The social function is to stimulate the intensity of the work of citizens seeking to become owners of real estate.
The functioning of the real estate market is carried out through the actions of its subjects, which include: sellers, buyers, professional participants (institutional and non-institutional) (Figure 7).
Table 7. Subjects (participants) of the real estate market
|
1. Sellers (lessors): property owners (legal entities and individuals); builders (developers); bodies authorized by local authorities, etc. |
2. Buyers (tenants): legal entities and individuals; investors and equity holders; government bodies, etc. |
|
Subjects (participants) real estate market |
|
|
Professional Members |
|
|
3. Institutional participants (representing the interests of the state): courts and notaries' offices; bodies for registration of rights to real estate and transactions with them; federal and territorial bodies regulating urban development, land management and land use; bodies of technical, fire and other inspections involved in the supervision of the construction and operation of buildings and structures, etc. |
4. Non-institutional participants (working on a commercial basis): building contractors; real estate agencies; evaluation agencies; law firms; banks; mortgage agencies; Insurance companies; media, etc. |
Due to its specificity, the real estate market has a number of features that distinguish it from other markets presented in Table 7.
Table 8. Features of the real estate market.
|
Characteristic |
|
|
Localization |
|
|
Type of competition |
|
|
Elasticity proposals |
Low, with an increase in demand and prices, supply increases little |
|
The nature of demand |
Demand is individualized and not interchangeable |
|
Degree of openness |
|
|
Product competitiveness |
|
|
Zoning conditions |
|
|
Registration of transactions |
legal complexities, limitations and conditions |
|
Price |
includes the value of the object and associated rights |
Thus, it was determined that the real estate market occupies a special place in the economy of any country. Acting as a complex integrated category, it combines the various interests and forms of activity of its subjects; various spheres of influence - from economic to social; a number of functions that have an impact on the economy of the country as a whole. At the same time, the increased relevance of marketing research of this market is typical for regional real estate markets, a feature of which is the obligatory orientation not only to local conditions, but also to the general situation in the country.
1.3 Real estate market research. Goals and objectives
The problem of studying the real estate market is an information problem. In order to assess the volume and structure of the housing supply, it is necessary to obtain information on how many and what kind of premises are available on the market, how many and which ones are being prepared for commissioning, and which of the real estate objects have already been put into operation. According to the data on the sale of housing, one can judge only the realized part of the demand.
The objects of market research are trends and market development processes, including analysis of changes in economic, scientific and technical, demographic, environmental, legislative and other factors. The structure and geography of the market, its capacity, sales dynamics, market barriers, the state of competition, the current situation, opportunities and risks are also being studied.
The main results of the real estate market research are forecasts of its development, assessment of market trends, identification of key success factors. The most effective ways of conducting a competitive policy in the market and the possibility of entering new markets are determined. Market segmentation is carried out, i.e. selection of target markets and market niches. In order to make informed decisions in any market, it is necessary to have reliable, comprehensive and timely information. The systematic collection, reflection and analysis of data on the problems associated with the functioning of the real estate market constitute the content of marketing research. To be effective, these studies must first be systematic; secondly, rely on specially selected information; thirdly, to carry out certain procedures for collecting, summarizing, processing and analyzing data; fourthly, to use tools specially developed for the purposes of analysis. Thus, marketing activities are built on the basis of special market research and the collection of information necessary for their implementation. The flows of this information are ordered by certain research procedures and methods. Let us dwell on the most important objects of real estate market research.
Conjuncture and forecasting of the real estate market
The general goal of market research is to determine the conditions under which the most complete satisfaction of the population's demand for goods of this type is ensured and the prerequisites are created for the effective sale of produced housing. In accordance with this, the primary task of studying the real estate market is to analyze the current supply and demand ratio, i.e. market conditions. Market conditions are a set of conditions under which activities are currently taking place in the market. It is characterized by a certain ratio of supply and demand for real estate, as well as the level and ratio of prices.
Gathering information is the most important stage in studying market conditions. There is no single source of information about the conjuncture that would contain all the information about the processes under study. The study uses various types of information obtained from various sources. Distinguish information: general, commercial, special.
General information includes data characterizing the market situation as a whole, in conjunction with the development of the industry. The sources of its receipt are the data of state and industry statistics, official forms of accounting and reporting.
Commercial information - data extracted from the business documentation of the enterprise, on sales from partners in the order of information exchange. These include: applications and orders of construction organizations; materials of market research services (materials on the movement of sales, market reviews, etc.).
Special information represents data obtained as a result of special market research activities (surveys of the population, buyers, experts, exhibitions and sales, market meetings), as well as materials from research organizations. Special information is of particular value because it contains information that cannot be obtained in any other way. Therefore, when studying market conditions, special attention should be paid to obtaining extensive special information.
When studying the market situation, the task is not only to determine the state of the market at one time or another, but also to predict the likely nature of its further development for at least one or two quarters, but not more than a year and a half, that is, forecasting.
A market forecast is a scientific prediction of the prospects for the development of demand, product supply and prices, carried out within the framework of a certain methodology, based on reliable information, with an assessment of its possible error. The forecast is based on taking into account the laws and trends of its development, the main factors determining this development, observing strict objectivity, conscientiousness in assessing data and forecasting results. The development of a market forecast has four stages: establishing the object of forecasting; choice of forecasting method; forecast development process; assessment of forecast accuracy.
Establishing the object of forecasting is the most important stage of scientific foresight. In practice, the concepts of sale and demand, supply and product offer, market prices and selling prices are often identified.
Under certain conditions, such replacements are possible, but with appropriate reservations and subsequent adjustment of the results of forecast calculations. The choice of forecasting method depends on the purpose of the forecast, the period of its lead, the level of detail, and the availability of initial (basic) information.
The process of developing a forecast consists in carrying out calculations performed either manually or using computer programs, followed by correcting their results at a high-quality, professional level. The forecast accuracy is estimated by calculating its possible errors. Therefore, the forecast results are practically presented in interval form.
Market forecasts are classified according to several criteria. In terms of lead time, the following are distinguished: short-term forecasts (from several days to 2 years); medium-term forecasts (from 2 to 7 years); long-term forecasts (more than 7 years). They differ not only in the lead time, but also in the level of detail and forecasting methods used.
According to the essence of the methods used, there are groups of forecasts, the basis of which are: extrapolation of a series of dynamics; interpolation of a series of dynamics - finding the missing members of a dynamic series inside it; demand elasticity coefficients; structural modeling is a statistical table containing a grouping of consumers according to the most significant feature, where for each group the structure of consumption of goods is given. When the structure of consumers changes, both average consumption and demand change.
On this basis, one of the forecasting methods is built: expert assessment. This method is used in the markets for new products, when the underlying information has not had time to form, or in the markets for traditional products that have not been explored for a long time. It is based on a survey of experts - competent professionals; economic and mathematical modeling.
The results of the analysis of predicted indicators of market conditions in combination with reporting and planned data make it possible to develop measures in advance aimed at developing positive processes, eliminating existing and preventing possible imbalances and can be provided in the form of various analytical documents.
1. Consolidated review - a document with generalizing market indicators. The dynamics of general economic and sectoral indicators, special conjuncture conditions are analyzed. A retrospective is carried out and a forecast of the market indicators is given, the most characteristic trends are highlighted, and the interconnections of the market conditions of individual real estate markets are revealed.
2. Thematic review of the conjuncture. Documents reflecting the specifics of a particular market. The most pressing problems typical for a number of objects, or the problem of a particular real estate market, are identified.
3. Operative market information. A document containing operational information about individual processes of market conditions. The main sources of operational information are the data of population surveys, expert assessments of specialists.
Market volume
The main task of real estate market research is to determine the market capacity. Market capacity is the total effective demand of buyers; the possible annual volume of real estate sales at the prevailing average price level. Market capacity depends on the degree of development of this market, the elasticity of demand, on changes in economic conditions, price levels, quality and advertising costs. The capacity of the market is characterized by the size of the demand of the population and the value of supply in the real estate market. At each point in time, the market has a quantitative and qualitative certainty, i.e. its volume is expressed in cost and physical indicators of sold and bought objects.
Two levels of market capacity should be distinguished: potential and real. The real capacity of the market is the first level. The potential level is determined by personal and social needs and reflects the volume of implementation adequate to them. In marketing, the term market potential is also used. The actual emerging market capacity may not correspond to its potential capacity. The calculation of the market capacity must be spatio-temporal certainty.
Market capacity is formed under the influence of many factors, each of which in certain situations can both stimulate the market and restrain its development, limiting its capacity. The whole set of factors can be divided into two groups: general and specific. Common are the socio-economic factors that determine the capacity of the market: the volume and structure of supply, including by representative enterprises; the range and quality of the premises provided; the achieved standard of living and needs of the population; purchasing power of the population; the level of price ratio for goods; Population; its social and sex and age composition; degree of market saturation; geographical location of the market.
Specific factors determine the development of markets for individual objects, and each market may have factors characteristic only of it. In this case, a specific factor in terms of the degree of influence may be decisive for the formation and development of supply and demand for specific housing. The set of factors that determine the development of supply and demand are in a complex dialectical relationship. A change in the action of some factors causes a change in the action of others. A feature of some factors is that they cause changes in both the overall capacity and the structure of the market, and others - that they, without changing the overall capacity of the market, cause its changes. In the process of market research, it is necessary to explain the mechanism of the system of factors and measure the results of their influence on the volume and structure of supply and demand.
Identification of cause-and-effect relationships in the market under study is carried out on the basis of systematization and analysis of data. Systematization of data consists in the construction of grouped and analytical tables, dynamic series of analyzed indicators, graphs, charts, etc. This is the preparatory stage of information analysis for its quantitative and qualitative assessment. Processing and analysis is carried out using well-known methods, namely grouping, index and graphical methods, construction and analysis of time series. Causal relationships and dependencies are established as a result of the correlation-regression analysis of time series.
Ultimately, a description of the cause-and-effect relationships caused by the interaction of various factors will make it possible to build a development model in the market and determine its capacity. The market development model is a conditional reflection of reality and schematically expresses the internal structure and causal relationships of this market. It allows using a system of indicators in a simplified form to characterize the qualitative originality of the development of all the main elements of the market at the present stage and at a given period of time in the future. The formalized market development model represents a system of equations covering its main indicators. For each market, the system may have a different number of equations and indicators, but in any case, it must include supply and demand equations.
Accordingly, there are three complementary ways to develop a forecast.
Questioning - revealing the opinions of the population, experts in order to obtain estimates of a predictive nature. Questionnaire-based methods are used in cases where, for a number of reasons, the patterns of process development cannot be reflected in a formal apparatus, when the necessary data are not available.
1 Extrapolation - continuation of the trends of processes in the future, reflected in the form of time series and their indicators, based on the developed models of the regressive type. Extrapolation methods are usually used in cases where information about the past is available in sufficient quantity and stable trends have been identified. This variant is based on the hypothesis of the continuation of the previously established trends in the future. Such a forecast for forecasting is called genetic and involves the study of econometric models.
2 Analytical modeling - building and using a model that reflects internal and external relationships in the course of market development. This group of methods is used when information about the past is minimal, but there are some hypothetical ideas about the market, which allow developing its model and, on this basis, assessing the future state of the market, reproducing alternative options for its development. This approach to forecasting is called target.
The result of the work to determine the market capacity should be an overview of the state of the market and its factors, as well as a forecast for the development of the market, taking into account trends in influencing internal and external factors.
Market segmentation
Any market in terms of marketing consists of buyers who differ from each other in their tastes, desires and needs. The main thing is that they all purchase goods, guided by different motives. Therefore, it is necessary to understand that with a variety of demand, and even in a competitive environment, each individual will react differently to the proposed real estate. It is very difficult to satisfy the needs of all consumers without exception, because they have certain differences in needs. For example, a number of consumers prefer luxury apartments and are willing to pay the corresponding price, while others have the opportunity to purchase housing with acceptable consumer characteristics at a low price.
In-depth market research suggests the need to consider it. In this regard, when planning your business, it is necessary to consider the market as a differentiated structure depending on consumer groups and consumer properties, which in a broad sense defines the concept of market segmentation.
Market segmentation is, on the one hand, a method for finding parts of the market and determining the objects to which the marketing activities of enterprises are directed. On the other hand, it is a managerial approach to the decision-making process of an enterprise in the market, the basis for choosing the right combination of marketing elements. Segmentation is carried out in order to maximize customer satisfaction, as well as to rationalize the costs of the construction company for the development of a construction program and the commissioning of finished premises.
The objects of segmentation are, first of all, consumers. Highlighted in a special way, having certain common features, they constitute a segment of the market. Segmentation refers to the division of the market into segments that differ in their parameters or response to certain types of activities in the market (advertising, marketing methods). Despite the possibility of segmenting the market for various objects, the main focus in marketing is on finding homogeneous groups of consumers who have similar preferences and respond in the same way to marketing offers.
Segmentation is not a purely mechanical process. To be effective, it must be carried out taking into account certain criteria and signs. A criterion is a way of evaluating the rationale for choosing a particular market segment for a particular enterprise, and a sign is a way of highlighting a segment in the market.
Among the disadvantages of segmentation, one should mention the high costs associated, for example, with additional market research, with the preparation of options for marketing programs, providing appropriate packaging, using various distribution methods.
Segmentation has advantages and disadvantages, but it is impossible to do without it, since in the modern economy each product can be successfully sold only to certain market segments, but not to the entire market.
Signs for market segmentation: geographical, demographic, socio-economic, psychographic, behavioral.
Geographical segmentation involves dividing the market into different geographical units: the state, states, regions, districts, cities, communities, as well as the size of the region, population density and population, climatic conditions, remoteness from the manufacturing enterprise. This feature was used in practice earlier than others, which was due to the need to determine the space of the enterprise. Its use is necessary when there are climatic differences between regions or features of cultural, national, historical traditions on the market. A firm may decide to operate in one or more geographic areas, or in all areas, but taking into account differences in needs and preferences determined by geography.
Demographic segmentation involves dividing the market into groups based on demographic variables such as gender, age, family size, family life stage, income level, occupation, education, religion, race, and nationality. Demographic variables are the most popular factors used to distinguish consumer groups. One of the reasons for this popularity is that needs and preferences, as well as the intensity of consumption, are often closely related precisely to demographic characteristics. Another reason is that demographic characteristics are easier to measure than most other types of variables. Even in cases where the market is not described from a demographic point of view (for example, based on personality types), it is still necessary to conduct with demographic parameters.
Psychographic segmentation. In psychographic segmentation, buyers are divided into groups based on social class, lifestyle, and personality characteristics. Members of the same demographic group can have vastly different demographic profiles.
Behavioral segmentation. Behavioral segmentation divides customers into groups based on their knowledge, attitudes, use of the product, and reaction to the product. Marketers consider behavioral variables to be the most appropriate basis for shaping market segments.
After dividing the market into separate segments, it is necessary to assess the degree of attractiveness and decide how many segments the company should focus on, in other words, select target market segments and develop a marketing strategy.
Target segment - one or more segments selected for the marketing activities of the enterprise. At the same time, the enterprise must, taking into account the chosen goals, determine the strengths of competition, the size of markets, relations with distribution channels, profits and its image of the company.
Market segments in which the company has secured a dominant and stable position are commonly called a market niche. The creation and strengthening of a market niche, including by finding market windows, is ensured only through the use of market segmentation methods. After determining the target market segment, the company must study the properties and image of the real estate of competitors and assess the position of its object in the market.
State of competition and market barriers
In a market economy, firms operate in a competitive environment. Studying consumers, one should not forget about competitors. The main task of competitor research is to obtain the necessary data to ensure a competitive advantage in the market, as well as to find opportunities for cooperation and cooperation with possible competitors.
To this end, analyzing the strengths and weaknesses of competitors, it is first necessary to answer the following questions:
· Who are the main competitors of your company?
· What is the market share of your company and its main competitors?
What is the competitor's strategy?
· What methods are used by competitors in the struggle for the market?
· What is the financial condition of competitors?
· Organizational structure and management of competitors?
• What is the effectiveness of competitors' marketing programs (product, price, sales and promotion, communications)?
• What is the likely reaction of competitors to your firm's marketing program?
At what stage of the life cycle are your product and competitor's product?
The first step in studying the competitive environment is to assess the characteristics of the market in which the company operates or intends to operate. Next, you should study who is a real or potential competitor. A competitor is an important element of the marketing system infrastructure that influences the company's marketing strategy in relation to goods, suppliers, intermediaries, and buyers. The study of the positions of competitors covers a wide range of issues and requires the involvement of a significant amount of information. It is advisable to analyze the characteristics of the main competitors in the following sections: market, product, prices, promotion of the product on the market, organization of sales and distribution.
Studying the competitive environment requires systematic observation of the main competitors, not losing sight of potential competitors. It is expedient to accumulate the obtained information in databanks. Information analysis allows specialists to derive reasonable estimates for each competitive factor and characterize the overall position of the company in the market in relation to its main competitors.
Market opportunities and risks
Any company should be able to identify emerging market opportunities. The search for market opportunities is made after assessing the potential of the enterprise and takes into account the real possibilities of the latter.
Unmet market needs are the basis of market opportunities for an enterprise. In a situation where the buyer is completely satisfied with the supplier's services, the offer of similar goods to him on similar terms by another enterprise will not be successful. At the same time, in this situation, the buyer may have unsatisfied needs for a better object, more favorable conditions, more extensive service. Identification of such needs is carried out through the construction of hypotheses: previous experience of the manager or consultant; proposals of the personnel of the enterprise; experience of partners and contractors of the enterprise; competitor innovations.
The task at this stage of strategy development is to build as many hypotheses as possible. The main method of obtaining materials at the enterprise and from its partners is a free interview, in which the interlocutors are encouraged to express any, even the most "crazy" ideas. Having chosen a segment, the firm must examine all the proposals that are currently in a particular segment. Next, it is necessary to provide the object with an unquestionable, clearly distinct, desirable place in the market and in the minds of target consumers. This is called product positioning in the market. Once the positioning decision has been made, the firm is ready to begin planning the details of the marketing mix.
The work of analyzing marketing opportunities, selecting target markets, developing the marketing mix and implementing it requires supportive marketing management systems. In particular, the firm must have systems for marketing information, marketing planning, marketing organization, and marketing control.
When establishing entrepreneurial risk, the following concepts are distinguished: “Expense”, “Losses”, “Losses”. Any entrepreneurial activity is inevitably associated with costs, while losses occur in unfavorable circumstances, miscalculations and represent additional costs in excess of those planned. This characterizes the category of "risk" from a qualitative point of view, but creates the basis for translating the concept of "entrepreneurial risk" into a quantitative one. Indeed, risk is the danger of loss of resources or income. In relative terms, risk is defined as the amount of possible losses related to a certain base, in the form of which it is most convenient to take either the state of the enterprise or the total cost of resources for this type of entrepreneurial activity.
Chapter 2. Research of the real estate market of the Republic of Khakassia
Marketing research
Marketing research
Marketing research is a necessary component of the activities of companies that set themselves the goal of increasing market volumes, reducing costs, and, ultimately, increasing profitability. When developing a business plan for an investment project, it is on marketing research that all assumptions about future income and market opportunities for the business are built. Competent market research will help reduce uncertainty in your business, reduce risks when developing a business plan, and most effectively allocate economic potential to achieve the company's desired strategic goals.
To make informed management decisions, certain knowledge about the target market is required, without which the planned transformations cannot be considered justified.
We provide market research services in all regions of Ukraine. In our activities, we use a set of marketing research methods suitable for solving various problems of the company
Qualified specialists of our company will carry out the necessary work for you and provide qualified services using a variety of marketing methods. Depending on the type of need that a company has, the following goals and objectives of marketing research are distinguished:
comprehensive market research;
assessment of the market potential;
sales analysis;
study of goods;
research of buyers;
research of pricing policy;
short-term and long-term forecasting;
research of competitors;
research of the sales promotion system, advertising research, etc.
Marketing research of the real estate market
In order for the project to be as effective as possible, it is necessary that the idea of developing a certain territory be confirmed by marketing, economic, expert studies on the basis of permissible and permitted, as well as physically feasible use of the territory.
Properly Designed real estate development concept plays a key role in the continued success of the project. When investing in development projects, investors expect that the profit from the project in the future will significantly exceed the funds spent on it.
The development of the concept should begin with the answer to the question of what object can be placed on the site in question. And for this it is necessary to conduct a number of marketing researches, which are carried out according to the criteria of compliance with economic feasibility and financial feasibility, maximum profitability and the highest cost.
On the basis of professional research, a concept for the future development of the territory is developed, where the main economic idea is formulated - what should be the property in this particular place so that it is commercially successful, brings the owner the maximum return on investment and retains its value for many years.
The economic concept is necessary for the most efficient use of the land, it is an "instruction" for investors and owners when making decisions on the further development of territories.
Brief structure of the marketing concept
1. Analysis of the land plot at the micro and macro levels
2. Transport and pedestrian accessibility of the land plot
2.1 Access roads, connection to main highways and railway stations
2.2 Public transport,
2.3 Individual transport
2.4 Pedestrian flows
3. Analysis of the competitive environment of the land plot
4. Analysis of the macroeconomic situation in the country
5. Marketing analysis of the relevant segments of the real estate market
6. Analysis of potential consumers. Analysis of demand and consumer preferences - based on the results of a survey or in-depth interviews
7. SWOT - land plot analysis
8. The concept of development of a land plot or property
8.1 Description of the project, its main difference from competitors
8.2 Portrait of a potential consumer
8.3 Zoning of the territory or building
8.7 Future business pricing policy
8.8 Main technical and economic indicators according to the concept of real estate development
9. Identification and assessment of project risks, suggesting ways to minimize them
10. Technical and economic indicators of the project (TEPs)
Methods used in conducting marketing research:
1. Desk Research
The main purpose of desk research is to collect and analyze secondary information, the so-called secondary data. Secondary data, as a rule, constitute documents in the sense that the term is used in sociology. There are several types of documents: official and unofficial, personal and impersonal, etc. In desk research, data is always non-targeted, since it is not created during the study, but is taken from other sources ready for analysis.
Possibilities and effectiveness of the method:
Conducting desk research, as a rule, requires less time than questionnaires. The cost of desk research is low. The advantage also lies in the possibility of obtaining information about problems that are inaccessible to direct study through subject-object interaction, as is done in marketing research.
Desk research can be used as the main method of data collection, the purpose of which is to answer the program (main) research question, to test the main hypothesis. In addition, the method is an integral part of almost any integrated marketing research.
2. Field research:
2.1 Consumer survey
The main advantage of the technique is that the collection and processing of data takes place specifically for a specific marketing analysis. The questionnaire is based on primary information, that is, on newly obtained data to solve a specific problem under study. Advantages of primary information: data is collected according to the precise objectives of the research task; the data collection methodology is controlled, all results are available to the company and can be classified. Disadvantages: significant costs of material and labor resources.
It should be noted that field and desk research complement each other.
The cost of the survey, as well as the region of study and the sample size are determined on an individual basis.
2.2 In-depth interviews
In-Depth Interviews- This is an individual conversation, conducted according to a predetermined scenario. In-Depth Interview involves obtaining detailed answers to questions from the respondent. Although the interviewer follows a general outline of the interview, the order of the questions and their wording can vary significantly depending on what the respondent says. Using in-depth interview method the respondent's statements are not influenced by others (as happens, for example, in focus groups).
In-Depth Interviews are based on the use of techniques that encourage respondents to lengthy and detailed discussions on a range of issues of interest to the researcher. This allows you to get to the smallest details, to find out all aspects of the behavior and reactions of respondents that may be important for solving the research problems. Holding in-depth interview requires a very high qualification of the interviewer. The interview is conducted in person in the absence of strangers, or by telephone, if this is allowed by the nature of the study.
The cost of in-depth interviews, as well as the list of respondents, are determined on an individual basis.
Business planning
Business planning is a universal tool for predicting the future.
Business planning contributes to the development of the organization's goals, ways to achieve these goals, minimizing business risks, motivating the team, obtaining a loan.
Our specialization is drawing up a business plan, feasibility study (feasibility study) of the project to obtain a loan or attract investors. We will help you drafting and writing a business plan in accordance with UNIDO international standards, and in accordance with the requirements of Ukrainian credit organizations, international and Ukrainian investors and banks.
Business planning is especially necessary if your company decides:
expand or modernize production
open new lines of business
take part in a joint venture
Explore new markets or products
Get a loan or investment
All of the above activities require significant financial investments.
A universal tool for evaluating the effectiveness of such investments is a business plan.
UNIDO methodology
In accordance with UNIDO standards, the business plan structure should include the following sections:
1. Project summary
2. Description of the enterprise and industry
3. Description of products (services)
4. Marketing and sales of products (services)
5. Production plan
6. Organizational plan
7. Financial plan
8. Direction and effectiveness of the project
9. Business risks
10. Applications
The cost of developing a business plan, if the Customer has all the necessary information, is from 800 US dollars, the term is 12-16 business days.
Development of a financial concept (FC) for commercial real estate
FC appointment.
The objectives of financial and economic calculations (hereinafter referred to as the Financial Concept, or FC) at the stage of developing the CONCEPT of the Development Object are:
§ Determination of the investment attractiveness of investments in the Development Object for the project participants - investors and the developer
§ Quantitative assessment of investment risks and project margin of safety
§ Preparation of the necessary calculation data when evaluating the effectiveness of the invested capital (without taking into account the financing scheme) for making decisions on the feasibility of further development of the project
§ Establishing the minimum required requirements for the financing system and calculating the initial data for negotiating with various types of investors
§ Calculation of the investment cost plan for negotiating with contractors
As a result of the development of FC, a dynamic model of the company's strategic goals is formed, taking into account the main factors of the external environment and the internal characteristics of the company, which is used to:
1. presentation to the general investor of a vision regarding the commercial effectiveness of his participation in the Project, taking into account the totality of technical, economic and market factors
2. making decisions on the development of the Construction Project of the Development Object and the assessment of the main cost elements of the Project
3. calculation of indicative indicators for negotiating with real estate firms regarding the sale and leasing of construction products
The FC, together with the dynamic model, serves as a business model for the investor, according to which the economic feasibility of the project is assessed at the stage of pre-project studies. All forecasts and justifications as part of the work on the development of FC are carried out in compliance with the established criterion for the degree of reliability of averaged estimates.
3. calculation of the commercial efficiency (viability) of the Project as a whole for the invested capital according to the base case
4. Analysis of the sustainability of the Project and identification of risk factors for subsequent planning of risk management tasks
results. The Customer receives all the necessary data to draw up a Declaration of Intent, which establishes the following target figures for the subsequent stages of the Project implementation (stage "P", stage "RD", investment phase):
§ forecast technical and economic parameters of construction projects
§ predicted terms of commissioning of construction projects
§ forecast for the sale of construction products
§ forecast of the discounted payback period of the Project
§ the expected rate of return of the investor
§ assessment of the sustainability of the Project in the face of uncertainty and risks
§ financial safety margin of the Project
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