Mark: Point shared. As you know good development do not even get to the Estate Agents. The majority of the units/phases get sold through internal market and its contacts.
I have always stressed to people that they should buy for retirement or impending retirement. Even in UK buying to flip is a very risky business should only be done by people who can afford to lose the money or have plan “b” etc.
In the well established Med countries the high cost of buying/selling alone will eat into your speculative profit. The same applies for the so called emerging markets. Infrastructure will take years and if you cannot find another foreign buyer than you have no local market. The second hand market is not very lucrative for the Agents and an individual does not have the kind of marketing clout.