Off plan property

Off plan property

Off plan property is a term used to describe pre-construction property (British English) or pre-construction real estate (American English).

Real estate developers usually market pre-construction developments[1] to early adopters who are usually property investors, so as to secure better finance terms from their lender.

Property investors or property speculators like to purchase property in this way in the hope of making substantial capital gains. This can and does occur because developers who offer property for sale off plan, often offer financial incentives to early adopters, usually in the form of a discount. Also in a rising market and with a development cycle of typically 12–24 months there may be ample opportunity for capital growth.

References

  1. ^ David Stanley Redfern Off plan property
  • Redfern, D (2008). Off Plan Property

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