| It really depends what you mean by ' best'... If you think that the best is the amount of profit made (rather than the appreciation gained by not selling it and keeping it), then that depends to since the profit can be low but quick, or high but late/slow.
My dad's a property developer and does his developments in the UK.
Here in england, especially in the northwest area where land is cheaper (and more and more people are moving from the south, so they can have bigger houses) , there are loads of property developments emerging.. and they are selling like hot cakes.
However, the main thing is how much capital have you got to invest? If you have little capital (e.g. only enough to build 1-5 houses) then you will make less money since you have zoned a smaller amount of land from a city (which will be less appealing, and therefore will fetch a smaller profit & will also take more time to sell per house - also if its under 20 houses, then not many people will know about it)
If you have more capital (or perhaps can attract investors) and can build many houses (20+) then you would zone a greater part of land (since the people around would know about it quite well), which would make it more appealing to customers, fetch more profit
My dad has large housing development projects (large ones are the ones that make money) and of which typical net profit margins (north west part of england, for my dads projects) are around the 50-200% range (usually over 1.5-3 years).
Once great reason to develop properties in the UK is the quality of housing. In the US, we all know that the housing standard is very good, and a nice 2500-4000+sqft home is very common (and there are places where lots of houses over 7000sqft can be found). However in the UK it is totally different. Most houses in the UK are very grotty, about 2 bedrooms (which would be the size of an american closet), be quite hideous/ugly, and under 1000sqft - if you ever visit the UK, and decide to go past what the london sightseeing buses take you to.. you will realize this.
Thats were american property developers come in. Building a beautiful house isnt expensive. If you've got the right mind, and a great sense of style, a beautiful house can be cheaper (or the same price) as a grotty oldbrick english house. In the UK there are many american house builders, and when they build houses, british people get totally amazed (since they only see a nice beautiful neighbourhood when a foreign guy brings/builts it).
British people do have the money, but dont know what kind of house they want until you build their dream home (sometimes my dad sells his homes well before they are actually finished). | 
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