Off-Plan Property

If you are purchasing a property off-plan from a developer the building work will either not be complete or will have not been started.

Most developers require funding from banks and receive this in a number of instalments throughout the build period based on meeting certain criteria.

One of those criteria is to sell a certain number of apartments off-plan which gives the banks confidence in the development as well as reducing the outstanding debt.

Concept Property is able to negotiate substantial discounts on behalf of our members as we can sell the required number of off-plan apartments in the time required by the developer.

A deposit of between 5% and 10% is usually required on exchange which is twenty eight days after reservation. No additional funds or mortgage offer are necessary until completion.

In addition to the instant equity created, off-plan properties benefit from the increase in value during the build period. The build period can take anywhere from six to twenty four months in which time the value of the property can grow by 5% to 10% per annum.

Concept Property can often arrange for an Exchange Bond® to be used as an alternative to the 5% or 10% normally required by investors to put down on exchange of an off-plan purchase.

Build Complete Property

It is also possible to negotiate discounts on the remaining apartments once a development is complete.

The developer will often do this if their financial year end is approaching and the properties need to be included in the year end figures, or it may be that they have another development that they are starting and simply want to move on.