CYPRUS BUYING GUIDE - BUYING OFF PLAN

Over the last few years, many people have benefited from buying through this method. Although it is true you need some imagination in buying this way (or if you lack of imagination we will provide with you with a 3D design of the future project). You will be giving yourself a maximum investment opportunity.

Buying off-plan means reserving a property on a new development before the property is completed and in many cases before the development has even seen a brick laid. The developer is keen in the early stages to offer investors a discounted price so as to minimise his borrowing risk. Although he may have detailed specifications and floor plans, he still has nothing truly visible so this is factored into the early pricing.

Due to the supply and demand unwritten rule, as the developer sells each phase it increases his prices. Furthermore, when the project is brought to life the pricing is obviously higher because it naturally appeals to a wider buying audience.

One question that could be raised by you as a cautious investor is, if there will be any risk associated with your funds deposited. The answer to your question is that we only collaborate with developers that can offer an insurance policy or in most cases a Bank Guarantee. With the Bank Guarantee this means that in the unlikely event of the developer not finishing the project you will receive your money back plus the interest.

To help you towards purchasing your seaside dream, or golf property, we will raise the 30% deposit required to purchase your property off-plan by releasing

 the equity from your home country property. Furthermore, because we are confident with our partners of the delivery time our company is willing to pay the interest of your property until your property is completed.

After an initial investment has been made towards owing an off-plan property there are two options that can be followed:

1.      You can take delivery of the property and take on a mortgage on the reaming 70%, OR

2.    You can re-sell the property before completion and bank the profit (however note that the second option is available with certain developments only)

The benefit of dealing with Orange RE is that we offer you piece of mind and stress free life whilst your property is developed. Furthermore, and as you already know, buying off plan has been a good way to enter into the Cyprus property market. Moreover previous case studies have been proven that there are considerable gains to be made in this way since you can be benefited from both capital appreciation and builder increases during this period of time.

NOTE:                                                                                                                                

It is Orange’s RE policy not to sell any off-plan properties that have not obtained detailed planning consent.