Property developers are often criticised for being greedy. They get a bad press for building rabbit hutch-sized houses on green fields, cutting corners on construction, buying up and demolishing well-loved local landmarks, sitting on land without using it, failing to provide affordable homes and generally for making huge profits.
Of course, much of this criticism is made by people who don’t understand the risks and uncertainties which developers face, and the personal sacrifices they make. And it plays on the fallacy that if someone has made a profit, someone else must have been taken advantage of.
If you’re interested in the ethics of property investment, you’ll like this interview with Simon Chisolm, the Chief Investment Officer of Resonance. Resonance is a social impact investment company which, amongst other things, creates property investment funds, which deliver financial return as well as targeted social impact.
You can read the full interview here.
In case you haven’t seen it, you may find our Property Development JV Checklist helpful. You can download it here.