Purchasing an off-the-plan property? Here is what you need to know

Purchasing a property off-the-plan is becoming an increasingly popular option for many prospective buyers and investors. While this approach to purchasing property offers many benefits, it is also not without risk, and so it is important to know what to look out for. Here, we answer some of the most common questions people may have about purchasing a property off-the-plan.

What does buying off-the-plan mean?

Buying a property off-the-plan means you are purchasing an apartment or house that is yet to be constructed or is in the process of being constructed. Since there is no existing property to inspect, prospective purchasers will base their decision on building plans, designs and specifications.