Off-plan — what it means
Off-plan means buying a unit during construction under a developer contract. Entry is 15–30% cheaper than completed stock and instalments are available, but you take on construction risks: delivery timing, quality, and the developer’s financial stability.
How an off-plan purchase runs
The typical sequence: reserving the unit with a deposit, signing the SPA, payments on a schedule — tied to the calendar or to construction stages — then inspection of the finished unit and registration of title at handover. The discount to completed stock and the instalment plan are the buyer’s compensation for taking on construction risks.
The risks and how to reduce them
The main risks are delivery delays, quality falling short of the renders, and the developer’s financial stability. They are reduced by checking the EIA status and building permit before the deposit, studying the developer’s completed projects, and through the SPA terms: late-delivery penalties, termination rights and refund of payments must be written in, not implied.
How this works with us
We accompany an off-plan deal from reservation to handover: before the deposit we check the project’s permits and EIA status, help negotiate amendments to the SPA, and during construction the client receives progress reports from us. At handover we arrange a unit inspection and have defects logged before the acceptance act is signed.
Frequently asked questions
What does off-plan mean?
Buying a unit during construction directly from the developer under an SPA — cheaper than completed stock and with instalments, but with construction risks.
How much cheaper is off-plan than a completed unit?
At sales launch the discount to completed stock is usually 15–30%, plus instalments over the construction period. Prices converge by completion.
What happens if the developer delays delivery?
The SPA defines the liability: typically late-delivery penalties and the buyer’s right to terminate with a refund after a prolonged delay. These clauses are checked before signing.
Off-plan vs completed: which to choose →
See it on a real property
Terms matter when there is an actual deal behind them. We will show how this one works on a project from the catalogue — documents and numbers included.
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