While the Sydney property market is now experiencing a period of cooling, the overall trend for property prices over the last ten years has been runaway. Over the last 30 years, property prices in Sydney have grown 449 per cent, and in 2021alone the overall average value gain was 24 per cent. In that context, some experts suggest a further easing over the next year should be expected, but the long-term prospects for property ownership are strong.

For many of our developer clients, this market presents fantastic opportunity to acquire a site at a more reasonable price.

This means that property development remains a hot space and one well worth getting involved in for those that are entrepreneurially minded. It can also be a challenging sector to get involved in. Therefore, there are times when you’ll want to have reliable property development lawyers on hand to help you navigate the complexities of the market.

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Property development lawyers can provide advice on a range of matters, from contract negotiation to zoning regulations and more. They can also help you to understand the legal implications of any decisions you make and ensure that your interests are protected throughout the process. When it comes to property development, there are several key considerations that you’ll need to consider.

Firstly, you need to consider the purchasing entity that is most suitable to your development, this may be a company, trust or even in your personal name. The structure you use will have an impact on the finance, tax as well as asset protection. Having the right entity can mean maxi-missing finance, mini-missing risk while providing tax flexibility.

Depending on the development, the way the deal is structured can be important. An appropriately structured deal can mean using a wide range of instruments such as a joint venture agreement or a put and call option tailored to the particular situation to maximise the outcome. It is important that you should consult property development lawyers to consider how to structure your deal.

Planning laws are also in a state of constant change, as the state government continues to try and grapple with the housing crisis that it faces, and the election cycle means that both major parties in politics are consistently re-evaluating laws and making new promises. Having expert property development lawyers that can help you stay compliant with the regulatory environment is imperative on an ongoing basis.

Finally, competition in Sydney among property developers is increasing. Land is at a premium in prime real estate areas, and this makes protecting your interests against aggressive tactics even more important. Having the right property development lawyers behind you can ensure that contracts are reviewed quickly and accurately so that you can secure the right lot before your competitors.

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When looking for the right team of lawyers, you want experts that will partner with you for the long term. You want them to support your projects from the earliest stages, as you research the area for opportunities, right through to the completion and sale of your development project. The team at ABP Lawyers has experts in property development and a history of assisting property developers with projects of all sizes. Contact us today to discuss your specific requirements!

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