Off-Plan Properties – Benefits.
What is an Off-plan property ? Is a property purchased before a structure has been constructed upon it. Pre-constructions are usually marketed to real estate developers and resalers. The purchaser can secure more favorable finance terms from their lenders.
When buying property as an investment, it’s important to look for two key attributes – high returns and capital growth; something which can easily be achieved when purchasing off-plan. Off-plan developments are currently experiencing some of their highest sales levels and its popularity is heightened by the ability to negotiate excellent discounts either before the property is built or whilst it’s under construction. Buying off-plan has a slightly different purchase process when compared to pre-built buy to let property however, once familiarised with the general process and the additional advantages, investors often find off-plan property to be an incredibly viable investment option. Purchasing off-plan has many benefits – here we’ll look at some advantages:
- 1. Purchase prices are significantly lower than average
One main advantage of buying property off-plan is the ability to secure the purchase at below market value. Quite often, this is due to developers wanting to demonstrate a certain level of sales prior to marketing the development or to sell as many units as possible before completion. Some developers also offer additional discounts for investors purchasing multiple properties at any one time as an added incentive. At Boltas commecial we negotiate directly with developers to obtain the best discounts for their clients on off plan property due to our ability to sell large numbers of properties quickly and efficiently.
- 2. Strong capital growth can be attained
Those who purchase property off-plan benefit mostly from house price growth. If a property is purchased in 2015, but isn’t due for completion until 2017, when the property has finally been built, they will have seen their property grow in value each year. This can add tremendous value to a property, especially if it has already been purchased at a discounted price from the outset.
- 3. Ability to re-sell at a profit before completion
As it’s more than likely that your property will go up in value before completion, investors can choose to put their property up for sale and sell at a higher market value. Although this can be a good strategy for investors looking to make a profit quickly, you would see much more of a capital growth benefit by tenanting the property and also gaining the benefit of a regular rental income, in addition to capital growth.
- 4. Small deposits and staged payments
Dependent on the developer and the property, some off-plan deals have the added benefit of staged payments. These payments can help spread the cost of the purchase and enables investors to purchase property without a significantly large deposit. For more information about investing in off-plan property or to request a copy of our ‘Guide to Investing in Off-Plan Property’, call us today. We maintain strong relationships with developers, banks and receivers which allows us to source the best deals on discounted properties across the UK. Sequre have a number of off-plan developments available in fantastic locations, which can see instant equity from day one.
Are you looking for Off-plan properties in Northern Cyprus? Then here you came at the right place at a right time. Please forward your requirement to our Email address: firstname.lastname@example.org or directly call +90 542 858 51 23 to assist you in this regard.