What are the advantages of buying off-plan?

Buying a property off-plan means that it is purchased before the building has been constructed. This could even be ahead of the foundations being laid for the structure. Developers create a marketing suite on the site or close by to where the project will be built. Here there will be a model of the building and a customer service team on hand who know the project inside and out. There may even be a show unit to illustrate what the overall look will be like, as well as computer generated images of all the common areas, finishes and even view.

This practice that is very common in Asia but may be an alien concept for those living outside of the region. But it has its rewards, the most obvious being the price. Any new project will be sold in phases as the developer releases several units per phase until all are sold. The prices tend to increase with each release as the sales build up momentum and interest in the project ramps up.

To entice interest in the project some developers may also offer promotions or incentives during the off-plan sales period. These may include discounts or additional furnishings. This and will vary from developer to developer, and from project to project.

Some developers rely on these pre-sales to fund the build or to receive more favorable bank loans. Therefore, the price of an identical unit in the same property can increase by as much as 20% or even more between the start of pre-sales and completion. Even better, if you purchase early you can take your pick of the available units during the pre-sales period. That means you can choose a unit that best fits your requirements and needs.

Take advantage of buying off-plan and register with Ananda now to be kept updated on all exciting new projects.