Property Valuation
In Hawaii, what is a 'market study' vs. a 'feasibility study' in real estate development?
AA. They are the same thing used interchangeably
BB. A market study analyzes demand and supply conditions; a feasibility study evaluates financial viability of a specific project✓ Correct
CC. A market study is required by law; a feasibility study is optional
DD. A feasibility study is more detailed than a market study in all cases
Explanation
A market study analyzes supply, demand, pricing, and absorption for a type of property. A feasibility study uses that data plus cost and financing to determine if a specific project is financially viable.
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