Would you buy a property next to a prison?

[totallyproperty]

Wherever you are in the world we are seeing more instances of property development next to inner-city and out-of-town prisons. In many ways this is a reflection of the diminishing amount of land available for new development but it does beg the question, would you buy a property next to a prison?

 

[rkavdia]

I would not buy a property next to a prison because it could be harder to sell later. Because if this question comes into your mind, then definitely it's going to cross the buyer's mind also. If you can see the prison from your house then definitely it will hurt your property value.

 

[BillMurrey]

To my mind it is a unprofitable investment

 

[nmb]

On the surface this would look like a foolish investment but what if the prison was relatively old and may well be replaced in future? If the land was sold and redeveloped then this would be a whole different ballgame. If you were able to negotiate a low enough price on a property, and put in place a long-term rental agreement, would it be worth the risk?