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BUYING OFF PLAN - WHAT IS IT?

The concept of buying off plan (before the property is built) is not new - many investors have done it before in UK, USA and abroad. However, this trend is on the increase as more clients are beginning to realize the benefits of buying overseas property off plan.

Buying off plan means reserving a specific property or condo abroad at the initial stage when the plans are approved. It the opposite to buying a re-sale or just newly built property. At each stage of the process significant investments are required from the developer. A small percentage of the off plan properties for sale are offered at a discounted price to the investors to secure the bank guarantees or gain the market confidence in the project. Investing in property abroad in up and coming areas of Thailand is becoming increasingly popular as they offer larger financial rewards.

Overseas property off plan investment - How does it work?

Smart investors are getting to know about the new developments launched at the very early stage and pick and choose the best possible prices and properties. As a general rule the prices are going up during the period of construction by at least 10% when the construction commences, foundations are laid, when the rough works are finished and when the complex is completed.

As many off-plan developments last for a period of 12-24 months, the investor with a little financial outlay secures the price and in most cases enjoys a healthy capital growth if he/she chooses the right development.


Required capital to buy off-plan property abroad

A reservation fee is normally required when you buy a property off-plan; it varies from country to country and could be in the region of 100,000 baht. It is deducted from the next installment to the developer, which normally in 3-4 weeks after the reservation and in the region of 10-30%.

As the property appreciates in value it is often possible to arrange 100% mortgages and take out the cash invested to enjoy the capital growth.
In some instances the final payments are not required, if the investor decides to sell the property before completion. On a good quality luxury complex the prime location property re-sells to retired people or people looking to permanently relocate and cannot wait 2 years for the property being built.


Overseas property investment - what should I look for?

When buying a property off-plan does not necessary guarantee a good capital growth, as a lot of overseas property buyers and investors have found out the hard way. Things to bear in mind are:-the maturity of the market in the specific area, prices (how does the development compares with the local market prices), the quality of the development and of course the location and size of a specific project.



Buying off-plan takes a little courage, but is financially rewarding. Prospective purchasers should keep in mind that a property with a good investment potential sells extremely quickly. Reserving the condo or property while on holiday could be the best way for you to buy your Thailand home. Our staff will point you in the right direction and assist you to choose the right condo that would provide you the best returns.



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Buying Off Plan