Bulgarian Off Plan Property

Buying Off plan Property

When it comes to investing in property, particularly overseas property, the most common type of purchase is on off plan developments. There are two main reasons why this is attractive to buyers. First, it allows the property to be purchased and paid for over a long period of time, typically about 18 months although even up to 3 years is not that unusual. The buyer is contracted to pay set amounts, usually in the form of percentages of the total price, to the developer as the property reaches stages of build.

Secondly it allows the buyer to secure the property at a price below market value. The reason for this is that the developer will be using the money from the buyers to built the properties and the associated infrastructure. This can involve a degree of risk on the buyers side so in effect the buyers and the developer are in partnership. Once the development is complete the properties should be valued higher than the original off plan price.

Buying early in an off plan development can mean bigger capital gain in the end. If it is a big development, for example built on a golf course, it will be split into stages. Prices for property in stage 1 will usually be less than similar properties in stage 2 and so forth.

Please contact us if you would like to be first to hear about newly released developments so that you will have the option to invest in the very beginning.