[malachi]

Hello,
I am looking to invest in property and I having difficulty deciding what to buy and where. I have bought and sold some properties in the past, some of which have been successful and some not so successful. It is more difficult now that the market has slowed down. I am looking at buying off plan and I have my eye on a development.
2 bed flats are available and the company who is offering them states that it is offering them at a 15% discount, and they will be valued for mortgage purposes at the full amount, effectively meaning that I will not have to put down a deposit. The rental income and the mortgage will be roughly the same but the area is said to be improving rapidly. The deal is great if everything is true.

What I?m concerned about is how can I be sure that they are not overpriced and that there really is a discount and that the area is likely to improve. I have looked at some information on the net which shows that the area is not a bad area and that house prices have moved from below average for the city to above average for the city over the past year or two. Actual house prices are lower than the development but new build always seem to be higher don?t they ?

I would be grateful for any advice anyone could give me. Is it worth buying new property at the moment for investment purposes ?
Thanks
Malachi