Calculating Construction Costs

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From: Lan Diep


Hi All

I think this question is directed towards developers...

I was just wondering how can I estimate the construction cost per square for new properties?

Example Only: If the new property was 20 squares and the cost of the property was $840K.

Would I need to know the land component cost subtracted from the whole property cost?

And what benchmark cost per square, should I use to determine whether the property was fairly priced?

Lan
 
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Reply: 1
From: Joanna K


When we're looking at a unit site, we'll use rough (generous) figures of about $120,000 per unit to construct. Add on top of that council contributions and other incidentals. That gives us a quick guide as to whether or not a site is worth pursuing.

Kind regards
THE RENTAL SPECIALISTS

Joanna Karavasilis
Principal

www.rentalspecialists.com.au
rentals@rentalspecialists.com.au
 
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