As one of the most important cities in Europe, London draws in the profit minded punter like a magnet when it comes to property investment. From the classic brick house to the new age flat building, a London property development could be a great opportunity to boost your bank account, if you are ready to make an investment in the capital of the British Empire.

That might not be an easy thing to do, since the price for an average home can go up to ?500,000, and the prices can go sky high if you're searching within desirable locations. If all this is not a stop sign for you, then London property development is the thing to do.

You can start by researching the targeted market, as customers, and by doing so you will find what your plan is going to be based on. Then, you can start searching for the right property to buy. In a city like London, as anywhere else, a great house is not all about the design. Even if important, the design is not the first ?asset? that gives value to your investment. The location of your proposed property investment is extremely important. Safe surroundings, with successful neighborhoods, top class schools, regular transport and lots of parking areas will prove to be as important as the house itself.

With the already existing high standards, a London property development should require, alongside your creative urges, a team of professionals that will help organize your investment properly: a quantity surveyor will handle the costs according to the quality and the need of the materials involved; an architect is vital with his/her designs and planning consent as well as the ability to manage the whole project; an engineer will make sure your solutions are proper and structural; an estate agent will search the market for the best offers you could get on your finished product.

However, if a London property development is an investment you are not up to, regarding the high prices placed on the properties, you might consider refocusing your search outside the city, as there is plenty of development land for sale, some with planning permission already granted.

By choosing this kind of investment, you will have to realize it is a longer term investment that might prove, in some cases, more profitable then the property development or redevelopment within the city itself. It is also a far more difficult job because you will be building the house, rather than improving an already existing one. That is why you need the research in this area of the business too, if you want to be involved in buying the development land for sale.

There are to types of land for sale: land with planning permission and land without planning permission. Buying land without planning permission is cheaper but involves a risk. You will need to apply and wait for the local authorities to give you the planning permission, and that might take some time. The difference between two plots of land, one with permission and one without can be as much as 1000%. You might buy a plot of land without planning permission for ?50,000 but you will have to apply and wait for the local authorities to give you the permission. There are simple cases in which applicants waited no longer than 7 weeks for permission to be granted, but a more complex or controversial application may push you to at least a couple of years.

So if you are thinking of fast money, buy the land with planning permission. If you are keen on a long term investment and don't mind the associated risk, do your homework and spend your money on land without planning permission. You might not need to complete the building process after you get the planning permission. You can make a fortune in cashing in, just for waiting, on your development land for sale that is ready to build on now.