Buying Off Plan

Why Buy Property off-plan? 

Off-plan property is property that has yet to be built and so is bought ‘off-plan’. An off-plan property purchaser may be able to see a show home but usually all you are likely to see before buying are floor plans, perhaps a model of the development and artist impressions.

Most off-plan property developments have a build time of about 12-24 months, which gives an unprecedented window of opportunity to benefit from capital growth from an off-plan property purchase. Off-plan property developments vary from country homes, to modern apartments to commercial builds.

Off-plan property developers, offer property for sale off-plan before it is released to the general public in order to give the off-plan developer certain guarantees and capital. In return for property purchase off-plan you are able to purchase the off-plan property at the lowest price with a long build time. During this time, the value of the off-plan property may continue to grow.

People generally buy property Off-plan as an investment. Off-plan property can mean that you put down only a small deposit on the off-plan property and the remaining balance is paid quite some time after signing contracts. Of course, during this time the value of the off-plan property could be rising and you could see a significant growth of the original price of your off-plan property and you will not have invested any more funds. Like any investment, there is an element of risk in buying property off-plan.

Off-plan property can be acquired in a wide variety of countries, including UK, Europe, Middle East and Asia.

For off-plan property developments with build times of less than 6 months, it is generally recommended that you get an approval in principle. With off-plan property developments having build time of more than 6 months, this can often be done nearer completion.

With off-plan property purchase like any investment, it is very important to do your research before you invest in property off-plan. It's also very important to consider questions like, what are the projected returns in purchasing off-plan property and what are the associated risks in purchasing off-plan property? For instance, if you're planning on buying to let, what's the market like in the country in which you are buying off-plan property? Equally, if you're hoping for capital appreciation and rental income from your off-plan property, be aware that the two don't normally go together in countries where people traditionally rent their homes.

If you are interested in off plan property investment opportunities, please contact us today.