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Investment Properties and Buying from Plan Smart investors have been doing it for years and today, we are finding more and more clients electing to do it - "Buy from plan!" By reserving a new property today - usually in a development ‘before it is built’ you are buying off plan and it remains an ‘off plan’ property until close to completion. By reserving a property at todays price for a project which may be completed in anything from 6 - 24 months later you can sometimes obtain a small discount for buying ‘off plan’, but the main advantage is that as prices increase your reserved property price has been guaranteed by payment of a small deposit, this saves you a lot of money! The builder/developer will supply a timetable for the property’s completion, payment details, for non-completion penalties, and guarantees for the building work. You should ask to see a previous build that has been completed by the builder to confirm the quality. New building specifications also now mean that the quality of new builds is higher than it has ever been in this area and improving all the time. Payments are usually spread over the build time but schedules can vary considerably. A typical payment scheme may consist of 10-15% reservation fee, 2 payments of 25 - 30% during construction and the final balance upon completion. Buying a property "off plan" means you get the pick of the plots! Properties with good investment potential sell quickly and to get the best position / location means buying as far forward as possible - often even before there is a brick on the ground. You need a good imaginat?on to go down this route! You can always come on a viewing trip later on, whenever the time is convenient for you. If the development does not meet your needs or specifications agreed, the developer will usually allow you to transfer the deposit (but not the agreed sale price) to another one. Floor plans and technical specifications will be provided by the builder and although changes or additions to a property can be made during the design stage they may cost extra but less than trying to do the same at a later date. Buying off plan also means you can usually personally have an input to your home by choosing the bathroom suite and fittings, kitchen, fireplace, wall and floor tiles and paint colours. If you are buying from within a small development (usually up to 4 properties) you can often have a say in the final size/depth of the pool/garden design and car park area. Many developers are also offering a package which means even after completion your property the plot will be maintained to a high standard. Admittedly, you have to be somewhat brave to go down this road but if you've already seen the area, know where you'd like to be and want a return on your investment, then buying off plan may be the right choice for you (new property has great rental potential). With an off-plan purchase your property is appreciating in value even though you typically made a part payment of only 40% of the original price. Typically this could realise an annual capital return of over 50%. Steady capital appreciation, and net rental yields are typically up to 8% per annum on luxury developments and is projected for steady growth. Some investors who buy into a project will choose to sell their property before the final completion date, as they are able to offer a brand new property at the current market value thereby making a profit in most instances, often as much as 25% by the completion date. What else should be considered? The sheer enjoyment your family and friends will obtain from your holiday home in the sun, not to mention the outstanding antiquities, all year round Golf, world renown cuisine and the very low cost of living. And it is all 45 minutes from the international airport of Antalya. If you are interested in this option please see the projects below and contact us for details of the latest "off plan" projects. 3 Investment Properties for Sale
*Current list prices are available on request. Price "from" indicates that differently priced options are available at the same unit. |
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