OFF THE PLAN PURCHASES
Buying “off the plan” is when you buy a property before any buildings work have started or have finished. When you buy off-the-plan, you may be eligible for the off-the-plan duty concession that can apply to contracts for:
- Land and building packages; and
- Lots in vertical or horizontal developments (residential towers or unit complexes).
Benefits if you go for a buy-in-plan:
- Lock in a price – you will pay current market price for a property even though it will be developed in future;
- Secure a high value asset for less investment – the entire payment is not to be paid until the property has been built;
- Property value increment – in case of market growth, your investment can see increment in its value;
- Builder’s guarantee – newly made buildings is guaranteed for initial few years meaning that any interior or structural damages will be repaired by the builder; and
- Tax advantages – if the property is purchased as investment property, depreciation on buildings’ fixtures and fittings can be claimed as tax deductions.
Please contact us for constructions contracts.