Tenants in new estate or hold land?

Hi,

Just need some help with a situation. I got offered a block of land at a good price in a new estate. The block of land was part of stage 1 and stage 2 blocks are now on sale so there are no houses in the estate yet. Only the land.

I was planning to put a house on my block asap and then rent it out. My question is (a general question), do you think a property like this would rent out? I mean, even with a few others possibly building their houses, would I have trouble renting this out knowing there will be construction ongoing in close proximity?

This is my first venture into Real Estate, I will have a sizeable loan. Reason I'm doing this is because I should have close to 100k in equity once it's built given all the savings and discounts I have. It would only be sustainable though if it is tenanted.

Any opinions are welcome. The whole thing kind of depends on having tenants in there. I could survive without tenants but just barely but have no idea on how popular (or unpopular) new homes are in very new estates.

One other reason this is important is because longterm maybe it is better to just hold the block of land for a year or two and then do this. Once other new homes have been established, etc, but then it's going to produce no income for me at all other than possible CG.

Thanks