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Buying off Plan
Buying off plan has become quite popular with many property investors recently, and for good reason. Such investments often yield large returns on investment in a relatively short time, often without the need for huge sums of money up front. Clever investors buying off plan property may be able to sell it on for a good profit, possibly even before they have had to pay the developer the original investment sum.
Although the benefits of buying off plan are many, as with all high return investments there are some safe guards to use. Forward planning, a careful approach and experienced advice are very important when considering such a venture.
Buying off plan property may at first seem like a daunting prospect. Some investors are put off by the fact you are essentially buying sites that remain unfinished, but if you can look past this fact you should see that there is a huge amount of profit to be made by buying property in such a manner.
A lot of developers will sell a block of unfinished properties at a 15-20% discount from true market value to investors buying off plan. Once the properties are finished the investor is free to sell such properties on at full market price, often making hundreds of thousands of pounds - not a bad figure for a few months waiting!
Off plan purchasing is a huge market in many European countries and is quickly spreading to markets further east. Places such as Spain, France and Italy all have healthy platforms for buying off plan. Even countries with less developed economies like Bulgaria , the Czech Republic and Thailand are fast becoming popular with investors due to the rapid growth in their economies and subsequent influx of tourism.
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