It is probably easier to say that everything should be taken into account, because in reality any little thing can directly or indirectly affect the investor’s profit.
Unforeseen circumstances should also be taken into account, or rather, taken into account first. In relatively calm times, which do not include recent years, these are the points that will be decisive in choosing an object for investment:
The development market and its components: from types of developers and business plans to investment analysis and effective management of the project team.
Cost engineering. This should include an analysis of Russian practice, budget planning, work on holding tenders, risk assessment and change management.
Development of the project concept is the most extensive section in this matter, largely determining the success of investment. It also includes an assessment of technical and economic indicators and the formation of a budget with a preliminary calculation of the cost of the entire infrastructure.
The final calculation of the economics of the object and project cost management.
Often, investors see only numbers in a commercial proposal (for example, the presented economic efficiency, potential profitability) and immediately make a conclusion: is it profitable or not. However, without specific details and transparent initial data, this is just smoke and mirrors. It is worth thoroughly understanding dozens of aspects before making a decision.
For example, if you are planning to invest in the construction of a residential building, in addition to such points as: the experience and reliability of the developer, competitor analysis, the market for prices of residential real estate, number of floors, infrastructure, the economic and political situation in the country and the world, the investor also needs to take into account:
The interests and needs of the target audience – will there be demand for this construction project?
The projected income of the population in a given region/location by the time the project is completed – does the cost of housing correspond to the capabilities of the target audience?
Mortgage lending rates – statistics and dynamics will tell you what to expect from partner banks.
Obvious and non-obvious pros and cons of the location: what will facilitate the construction process and raise the market value of housing, and what will prevent you from getting a benefit.
The mood of the authorities. Of course, it is not easy to predict the behavior of the state in relation to the construction sector. For this, there are lawyers for construction support: they make expert analysis and more accurate forecasts on legal issues and interaction with government agencies.
This is only a small part of the critically important aspects. For each specific example, the list will be individual.