is property development risky? Not talking necessarily in this current economic situation.?

Yeah, watch out for dodgy ceilings. Always wear a hard hat.

The biggest single anxiety is getting good builders in to do the work.It is usually very,very stressful dealing with idiots who do not care.They can rack up their quote to leave you zilch.
You need a certain temperament for it.l found l could not sleep because of the builders,and the low quality of work at a high price.

Yes, Property Development is high risk business and it is cause of many crisis of the world.

Why
1.Business Nature is push and push price after develop and never look real demand
2.Many many no real demand and buy for sell buy for sell
3.Business Model need high lending level for high return..
4.Creditor look only quickly BE and Turn Over..

Every business is risky.

Property development is all about doing ur homework first. If u get it right the profits can be spectacular.

You need to make sure that u know how much the finished development will be worth, what the likely demand will be, how much the work will cost, & have access to good trades people, preferably from personal recommendations not the Yellow Pages.

In The UK property has doubled every eight years since 1950. The market goes above the line then corrects & goes below. Prices were about 20%above the line & will probably fall to 10-15% below the line, so there will be great buying opportunities in a year or so. prices r always weakest at the extremes of the market, the bottom & the top.

If u look back, whenever the market does start to recover the upside is usually spectacular & prices climb far quicker than they fell.

One of my friends has been dabbling in property for years. He sold everything about a year ago & has just started buying again. He is very excited about the opportunities that lie just ahead. He plans to build a portfolio of bottom market rental properties because he says he can get a 12% return & expects the value to double over the next five years.

He has a 25 year track record of getting it right, damn him, whereas l have lost money on almost every house l have had!

only when you are not getting at the right money.check out what thee other property is are going for then make sure you get yours for least 30% less when you buy your property.

yes its risky unless you know exactly what you are doing.
buy in the right location
know your market
know what your costs will be
know how to fix, electrical, gas , plumbing issues,
know good builders
know how to manage contractors
know how to budget
know the planning regs
know the maximum price you can sell for
the list goes on