LAND-investment firm PropertySpy has finally bowed to pressure and removed ugly markers blighting rural land between Wheathampstead and Harpenden.

PropertySpy, a St-Albans-based company in Upper Marlborough Road, buys Green Belt land and then sells it off in home-sized plots for "investment purposes". Despite the fact that there is no planning permission for a home and little likelihood of that changing, people are still persuaded to pay many times the agricultural value of the land on the off-chance of a change in planning policy. For example agricultural land currently sells for between £2,000 and £3,000 per acre while starting prices for PropertySpy plots of between 0.12 and 0.16 acres - sufficient for a three-bedroom house - start at around £14,000.

(Via the Herts Advertiser. To read the full story, click here)
(Picture: PropertySCAM)


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