Half of the rich people keep continue to swim in fame and wealth because of their occupied landed properties. If you own a land, housing estate you can be sure living great but this wealth are mostly control by political leaders and BD individuals......if you're blessed enough begins to occupy property's that can sure your next generation... In my country Nigeria if you don't have any of this properties forget yourself, you will end up making life mortgage and tenancy. Land never depreciates it keeps buying higher that's why I considered it the best investment. What do you think?
I think that land itself can be a bit more risky investment than when you already have a house on top of it. The land itself doesn't give any really benefit to people because they will first have to start building a house which could take quite a long time and can be very expensive. The same goes for using it for agriculture, if the piece of land is in a city, then there it's probably not allowed to start farming on it. So, the only real option is the sell it and let someone else build a house on it, or take out a loan to build the house yourself. In my country we saw a huge increase in the prices of building materials over the last 2 years. All the big companies use the Russia Ukraine war as an excuse to increase prices, which makes building a new house so much more expensive. You need to check in detail how much rent you can actually get for the house and if it makes financially sense to build a house now. When it comes to celebrities and rich people, they usually buy already build properties and only resell them later. For the average person it will be impossible to get our hands on such highly expensive pieces of land and houses worth millions.