Investments

Reserve ‘off plan’ and reap the benefits

Consider buying an off plan property. This way you can have a house built exactly to your taste and at a cost that is usually 20% lower than buying the same house after completion.

Smart investors have been doing it for years and today, we are finding more and more clients electing to do this. You simply choose your plot or apartment number and reserve it with a small deposit.

Why? First, you secure the price … and with the increases that took place in, for example, Cyprus last year, that could potentially save you £££’s. Secondly, you get the pick of the plots! Properties with good investment potential sell quickly and to get the best position, optimum garden size/terraces, etc, reserving now is by far the best way forward.

If your purchase is purely for investment, taking advice from the experts on the ground can pay big dividends.

Typically, the first 30% payment will be due on the signing of contract (drawn up by the developer) approximately four weeks after reservation. The final 70% less the deposit, will usually be paid in four stage payments during the build process – one when the concrete skeleton is in place, the next due when all brickwork is finished, then another when all the internal and external tiling has been done and the final payment on completion of the property.
Some investors who buy into a project either at its inception or soon after choose to sell their property before the final completion date, as they are able to offer a brand new home at the current market value, thereby making a profit in most instances. If you are serious about investing in property, talk to our specialist consultants … they will be more than happy to guide you.