I attended a medical meeting this weekend at Langkawi, Malaysia. I was impressed with the development at the jetty there + a few new interesting tourists’ spots such as Cable Car, Dataran Helang etc. I learned from the guide that the price of a piece of land at Langkawi has increased tremendously for the past few years due to the emergence of Langkawi as a popular place for tourists from various countires.
I still remember that when I was a medical student many years ago ( about 8 years ago), there were not so many tourists there and apartments and condominiums were cheap at that time, I really regret that I did not take any afford to buy any property then.
As a successful investor especially in property, you must have the quality to foresee future development, a lot of people out there like to be followers rather than pioneers. If you want to make a big profit in property, although financial planners always tell you that you have to find hot, hot and hot spots, I think this can be unpractical in some circumstances because properties at hot spots are so expensive and you have to wait for another economic downturn before you can afford to buy. However, if you have the quality to foresee future development, you may get some cheap properties that can turn to millions of dollars in assets in 5 to 10 years time!