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Nader The Broker

OFF-PLAN AND READY · WHAT IS ON THE DESK THIS WEEK

Every unit here has a reason it is available, and you get told what it is.

Two kinds of position. Contracts part-way through a payment plan, where someone else has already paid the first instalments. And finished units with keys, which can be rented the month you own them.

Contracts part-way through a payment plan, and finished units you can rent the month you own them.

7 POSITIONS ON THE DESK · UPDATED WEEKLY

WHAT STAGE

FIRST, ABOUT OFF-PLAN

Off-plan means the building is not finished yet. You pay in instalments while it is built, and you get the keys on the handover date.

Ready means it exists today and you can rent it out next month. Off-plan usually costs less per square foot and pays nothing until handover. Which one suits you depends on whether you need income now or growth later.

HOW DOES BUYING OFF-PLAN WORK?
TODAY You reserve the unit and pay the first instalment, usually 10 or 20 percent. The land department registers it in your name.
THE BUILD You pay the rest in instalments as construction hits agreed stages, over roughly three to four years. Nothing is rented and nothing is earned yet.
HANDOVER The final instalment is due, you get the keys, and from that month it can be rented, lived in or sold.
IF PLANS CHANGE Before handover the contract can usually be sold to another buyer, which is what an assignment is. Whether it sells at a profit depends on the market, not on a promise.