A product must always be suitable for its target audience, and property is no different.

When considering what type of residential or commercial property to develop on a site, the developer must consider the number of occupants, the specific requirements they have, and their desires.

If we look at a site in an affluent, semi-rural location as an example, the typical buyer will likely expect 4 to 5 bedrooms, a double driveway and garage, a large garden and plenty of family entertaining space.

On the other hand, if we look at a high-end apartment block in a sophisticated city centre, the buyer is likely to want the latest tech, cutting edge finishes, underground parking and close transport links, but only one or two bedrooms.

Understanding your audience key. You can invest all the money in the world into a property development opportunity, but if the product isn't right for the audience, the end result for you as the developer isn't going to be an enviable one.