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I don't agree, you can't build anymore and they are in hot demand. Sure there no yield but the double digit cg makes it not all bad plus your target market for selling has a virtual unlimited supply of cash.

I know that beach pretty well as the folks live 700m away. Very exclusive, most of the punters round there have so much coin they don't know what to do with it. Small houses on the cliff there go for 5m, large ones can bring anything. Small change for those people.

No revenue stream, just relying on cap growth, so not a great investment, but as someone said great fun to own.