Off plan
Encyclopedia
Off-plan property is a property
that has not yet been fully constructed. Some developers offer the chance for buyers / property investors to purchase a property before work has started. This is supposed to benefit the developers as they can secure funds and sales before the start of the construction work, and also the buyer, as they will usually be able to purchase at a lower rate with favorable payment options.
Typically, property developers will offer discounts of between 15-20% to encourage initial investment and help pay for ongoing development costs.
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
that has not yet been fully constructed. Some developers offer the chance for buyers / property investors to purchase a property before work has started. This is supposed to benefit the developers as they can secure funds and sales before the start of the construction work, and also the buyer, as they will usually be able to purchase at a lower rate with favorable payment options.
Typically, property developers will offer discounts of between 15-20% to encourage initial investment and help pay for ongoing development costs.