With the way population is growing, owning land anywhere (that's not going to be swallowed by the sea) sounds like a good idea to me. If you have some disposable income and don't mind a possibly long wait (and the taxes too), I'd say go for it.

What do you mean by 'the way population is growing'? The global population growth rate has been slowing significantly over the past century (it's roughly half of what it was in the 60's). The growth rate in developed countries is pretty much universally <1% (and in many cases, negative).

Yeah, we're going to see continued growth in developing nations, but those rates will slow as well as those nations... develop.

I was referring to the sheer number of people being born. Even if the growth rate is declining, it's still a lot of ever growing number of people looking for housing.

The sheer number of people being born also has to be compared to the sheer number of people dying. The growth curve is leveling off quickly, and there is still a lot of space left.

You have bigger fish to fry if growth goes negative. If you think that's going to be the case soon in your country, maybe retirement homes would be a wiser investment.