Advantages of buying an under-construction property:
- A lot of developers allow buyers to pay in installments without interest for the entire construction process. 50% or 20% of the value of the property is paid only when the construction is fully completed.
- All big developers are under the protection of the CONFOTUR Law. Their buyers are exempt from property taxes such as property tax transfer (it is the 3% of the property value) and real estate property tax for 15 years.
- Lower cost: The most loyal price policy is at the start of sales. The higher the percentage of completion, the more expensive the property.
- Good Appreciation on Investment: Since you are buying your property at a lower cost, the appreciation is expected to be higher. As the construction work in progress, the cost of your property also increases. The cost of apartments by the time of completion of construction is about 20%-30% higher.
- You get wider choices and more options to select from. You can choose allocation, the floor, the view and even the finishing of your future home.
If you choose a really good developer and location, then the purchase of an under -construction property will be totally safe and as profitable as possible.