Property development means buying a property, developing it by renovation. The property can then be sold for a profit or it can be rented out to tenants. The best way is to buy a cheap property because it needs updating and renovated.
Property Development can be undertaken by large corporations, small companies or individuals. This can be renovating existing buildings or building the property from scratch. Development can be something small like cabins or huge plots covering many acres.
It's best to do courses on property development and/or real estate, but they are not not mandatory.
Consideration must be given for the host country. Most of Europe should be quite safe, as would north America and Canada. If you are prepared to accept a small amount risk, countries in central America are an option.
Some interesting countries to do property development :-
- UK is a stable, wealthy country with the rule of law and well established property rights. Good places are major cities like London, Canterbury and Birmingham, coastal towns like Ramsgate, Broadstairs, Whitstable, Hastings, Eastbourne, Brighton and Portsmouth to name but a few.
- France has one of the most regulated property markets in the world and has always been a good country to invest. Renting-out holiday properties can be a lucrative business, and buying a second home is perhaps the best and most assured way to invest capital.
- Spain is known for it's warm climate, lower prices and amazing value for money - a large penthouse would go for a similar price as a small penthouse in New York, Paris, London, Amsterdam or Stockholm. Good areas include Barcelona and Sitges.
- Mexico has seen property purchases grow by 1.5% in 2018 and 6.4% in 2019 so should be a great country to develop property with plenty of investment opportunities. It offers future security and flexibility. Best areas are in Quintana Roo, like Riviera Maya, Playa del Carmen, Purto Adventuras, Cancum and Tulum. Spanish is the main language, although English is spoken in the tourist areas.
- Chile housing market continues to grow stronger, thanks to a robust economy, falling interest rates and strong legal protection of property rights. Many foreign property purchases are by Americans, Europeans and Chinese. Any individual or corporate body can purchase real estate in Chile, whether or not they are residents, except near the country’s boundaries.
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