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Preface

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It has been more than eleven years since the publication of my first book, The Intelligent Guide to Property Development in Australia, which was followed two years later by Australian Residential Property Development. Since these publications I have gained much additional knowledge and experience, which I have now documented in this new book. Over this period I travelled and worked on three continents, Australia, Asia and Africa, on a wide variety of projects, from housing estates to large-scale infrastructure developments for private and listed companies and government Institutions.

During my travels, many clients and business associates asked if I would consider writing a book on property specifically for their country. I

would explain that, although similar underlying processes and principles of property development apply in most countries, there will often be local nuances that influence the viability of a development. It is therefore important to undertake thorough research before applying a development strategy for implementation. This book seeks to provide an understanding of these principles that when applied will lead to better decision making during the development process.

Although most of my work in property development over the past decade has been in the commercial and infrastructure sector, numerous emails I have received over the years demonstrate that there is still a strong interest in the residential sector in Australia. It is for this reason that I decided to write another book on residential development that draws on the new information and new concepts I have encountered. While my previous book, Australian Residential Property Development, provides a good basic understanding of developing in the residential sector, this current book is significantly more advanced. Additional chapters include ‘Utilising modern technology', which sheds new light on how modern digital technology can facilitate the development process, and ‘Development economics' (a vital subject for any property developer), which demonstrates the important role played by economics in the development process.

The book describes the principles and processes of residential property development in Australia. It analyses specific asset types, from residential land developments to apartment developments. Examining these asset types individually shows that while the development principles are similar, each type has its own peculiarities. It does not discuss additions and alterations or single home speculation, subjects that are well covered by other authors.

Whether you decide to work in the industry on a part- or full-time basis, I hope the advanced information in this book will help you further your career in property development.

Ron Forlee B.Arch

ronf@ayrinternational.com

September 2014

Australian Residential Property Development for Investors

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