Feasibility Studies in Property Development: Who’s Involved and How Long It Takes

Key Takeaways:

• What Is the Purpose of a Property Feasibility Study in Real Estate Development?

It is a crucial early-stage assessment that evaluates a development’s financial, legal, and logistical viability— before major investments are made.

• What Are the Key Phases?

The feasibility process typically unfolds in three phases: preliminary review, detailed analysis, and regulatory approvals. Timelines range from a few weeks to several months, depending on project complexity and agency response times.

Introduction

In real estate development planning, even a single oversight can lead to costly delays, missed opportunities, or failed approvals. With high capital at stake and multiple regulatory hurdles to clear, developers cannot afford to move forward without a clear, structured roadmap. Fortunately, a comprehensive feasibility study can provide much-needed clarity to an otherwise complex process. This structured assessment determines whether a proposed development is viable—financially, legally, and logistically.

What exactly goes into this process? This article breaks it down for developers, investors, and stakeholders looking to reduce risk and maximise returns.

How Long Does it Take?

The studies examine critical factors such as zoning and land use regulations, environmental conditions, and property valuation for development. Conducted before significant capital is deployed, they help answer essential questions:

• Is the site suitable for the intended use?
• Will the numbers work?
• Are there risks that could derail the project?

While every project is unique, most studies follow a structured timeline broken into three key phases:

1. Preliminary Feasibility Study (2–3 Weeks)

This phase includes a high-level site review, assessment of zoning laws, preliminary cost estimates, and evaluation of nearby market trends. It’s used to screen potential sites before investing further in due diligence.

2. Detailed Feasibility Study (2–3 Months)

Here, a more in-depth analysis is conducted. This includes:

• Market and competitive analysis
• Site inspections
• Risk assessments
• Environmental reviews
• Financial modelling

The duration depends on project scale and complexity. This phase may also include a professional property valuation in Singapore to estimate returns and funding needs.

3. Approvals and Compliance (Several Weeks to Months)

Once the site is deemed viable, developers must obtain permits and clearances. This involves submitting proposals to agencies like the Urban Redevelopment Authority (URA), Building and Construction Authority (BCA), or National Environment Agency (NEA).

Securing zoning and land use approvals, environmental clearances, and building permits can take several weeks to a few months. The process relies on the property’s nature and government processing times.

Who’s Involved?

A well-executed study is rarely a solo effort. It’s a collaborative process involving experts from multiple disciplines. 

1. Property Valuers

Valuers assess the current and potential property value, factoring in location, comparable sales, future development potential, and other variable factors. Their reports are essential when you need to justify pricing in financial projections.

2. Urban Planners

Urban planners ensure the proposed development aligns with Singapore’s master plans and complies with zoning and land use regulations. They also flag potential conflicts early to save time during the approvals process.

3. Architects and Engineers

These professionals evaluate the site’s buildability. They draft initial concept plans and flag constraints such as accessibility, drainage, and utility connections.

4. Environmental Consultants

Sustainability is now a non-negotiable in modern real estate. Environmental consultants assess flood risks, pollution exposure, and other ecological factors. They also ensure alignment with standards such as the BCA Green Mark Scheme.