off plan information

[flick0069]

How much of a discount to you get when you purchase off plan compared to regular prices at the opening of the project?

[Trend XP]

arround 50% to 75%

[flick0069]

Why so much of a discount? What's the additional risk? How long prior to the lauch to they have the off plans available? Do you have to buy full floors?

[Trend XP]

Sorry… I mean prices between of plan and completion

[Go West]

Originally Posted by flick0069

How much of a discount to you get when you purchase off plan compared to regular prices at the opening of the project?

usually you will be looking at around 5%-10% sometimes 20% discount off the launch price.
The reason you get this discount is because on pre-launch you don't get the full details of the development and the development is only on paper.
Many people (mainly home buyers) don't like to buy of the plan as they don't know what they are going to get exactly, this is also why development starting to go up in value once the foundations are in the ground and another rise in value when some of the floors are built and so on, as now in this stage there is something you can see in real life, not on paper any more.
although from an investor point of view it is better to buy off the plan as you get more return for your money and your property appreciates more because you bought cheap.
There are risks involved with buying off the plan as you never know if there are going to be any delays in construction and if the development going to be sold to another developer etc.
But if you stick with good developers with good reputation you shouldn't have any problems and the positives aspects of buying off the plan will be much higher than the negative ones.
Don't buy anything you are offered without you making a full check of the developers and the deal-there are some agents out there that will sell you anything regardless if it bad investment or not- look at each investment individually

[Tereza C.]

speaking of off plan, Damac has a new launch coming up soon in Abu Dhabi, Al Reem Island.

[Roshan]

Originally Posted by Go West

usually you will be looking at around 5%-10% sometimes 20% discount off the launch price.
The reason you get this discount is because on pre-launch you don't get the full details of the development and the development is only on paper.
Many people (mainly home buyers) don't like to buy of the plan as they don't know what they are going to get exactly, this is also why development starting to go up in value once the foundations are in the ground and another rise in value when some of the floors are built and so on, as now in this stage there is something you can see in real life, not on paper any more.
although from an investor point of view it is better to buy off the plan as you get more return for your money and your property appreciates more because you bought cheap.
There are risks involved with buying off the plan as you never know if there are going to be any delays in construction and if the development going to be sold to another developer etc.
But if you stick with good developers with good reputation you shouldn't have any problems and the positives aspects of buying off the plan will be much higher than the negative ones.
Don't buy anything you are offered without you making a full check of the developers and the deal-there are some agents out there that will sell you anything regardless if it bad investment or not- look at each investment individually

WOW, those were some very good and very valid points raised. Never put your hard earned money into projects which some one has suggested.

You will have to do your own research.

Regards

Roshan

[Roshan]

Originally Posted by flick0069

How much of a discount to you get when you purchase off plan compared to regular prices at the opening of the project?

Difference in prices between pre launch and launch prices could be 10 to 15%
As mentioned in other posts, buying off plan, you have a chance to grow with the property, but stand the risk of delays which I do not pay heed to because your appreciation in most cases would make up for that. That problem is overidden when going with good and experienced developers who have a good track record.

Buying property which is ready usually invites a premium between 50 to 100%. Usually adopted by investors who want to stay and see something tangible before they buy.

Regards

Roshan

[melanie123456]

Damac have soon great deals on offplanpropertyexchange

[Prop Guru]

Damac is also launching another property in Jumeirah Village Central; Tuscan Residences II . Damac is a very reputable developer however pricy, but reliable. Their properties have done pretty well in the past.