These properties suit those that are looking to invest in property but may not have the necessary down payment for a ready property. Off-plan units are generally sold below the market-value offering investors a chance to sell at a much higher price on completion. An off-plan property will also rise in value naturally as the project is completed. This type of investment does not suit those that are looking for an immediate return on investment.
When you are purchasing an off-plan unit, you have access to more inventory compared to the ready property market. This allows you the opportunity to find the most suitable property for your needs without having to make allowances for views, floor plans and requirements.
Off-plan properties usually offer very flexible and friendly payment plans for purchasers. Starting with a low reservation fee for a unit (anywhere from 2 -10% as a down payment). This is paid to reserve your selected unit. There will typically be another similar size fee due within the following 30 days as you sign your Sales and Purchase Agreement. The balance payments will be payable in line with construction and a final payment on handover.