If the project comes off and the developer does'nt go bust (perhaps due to the credit crunch meaning developers cant access borrowing) then these will be a good investment given the outstanding views asnd being well above sea level.

I would urge everyone nowadays to insist on a copy of the company accounts before parting with any money. Should include access to any parent company accounts also.

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year