The existing catastrophe in the real estate and residential housing market has encouraged a "buyers market" leading investment aware clients to take a closer look at international property as a financial investment. One of the booming industry tendencies tempting numerous buyers’ attention is referred to as an "off plan property" buy.
People purchasing a property 'off-plan' are buying a property based on the drawings, floor plans, impressions and proposals submitted by the developer. Types of Off-Plan property include: residential and commercial buildings, apartments, condos and houses, commercial units and 'resort properties' like golf clubs.
Investing in off-plan property provides many options which buyers can employ. Once the property is completed, it is up to the buyer what they choose to do with it. Some buyers prefer to move in to the property, while others choose to rent it out or sell it on for a quick and easy profit.
Among the advantages of purchasing property off-plan is that the buyer is able to purchase the property at a substantially lower price than if the property were completed. Additionally, buyers often get discounts of up to 20% and the investment only requires a low deposit (typically 5-10%).
Off Plan Property Exchange, an online property advertising exchange, based in the United Kingdom, was launched in February of 2007 with the idea of advertising property for sale at GBP1 per day with the option to include banner advertising. The site includes blogs and a forum boasting feedback from industry professionals. Dealing exclusively in off plan investment property, the company is the first website to put buyers in direct contact with sellers.
Stuart Atkinson, CEO of Off Plan Property Exchange , encourages buyers to take advantage of the market while the price is in the buyer's favor and to negotiate a hard bargain.
"By locking in today's market prices for a purchase carried out in the future, buyers can typically expect a substantially higher return on their investment."
Atkinson said. Continuing to expand its international footprint, Off Plan Property Exchange currently represents clients in the United Kingdom, Dubai, Spain, Turkey, Bulgaria and Cyprus. By summer of 2008, the company plans to extend its service to the United States and Canada.
