The pandemic flipped the scope with the way we view the world of property and consumer demand is getting modified owing to many factors, leading to a rise in demand for larger homes.
Off-the-plan property sales are making a comeback as booming markets improve prospects that buying at today’s prices will deliver a healthy capital gain by the project’s completion. This is happening across the board covering an attractive market of clients with price brackets from US$300,000 into the millions.
Buying a property “off the plan” means committing to buying a property that has yet to be built. They are popular during a rising market because the buyer is committing to a property at current prices and, if all goes well, the residence will have risen in value and generated a capital gain. Buyers can also secure a property for a 10 per cent deposit, which gives them time to boost personal savings so they can take out a smaller loan.
For any developer, exploring options with approved planning permission is half the battle.