High returns and capital growth are two essential qualities to look for when investing in real estate, and both can be easily attained when buying off-plan. Off-plan properties are currently selling at some of their highest levels, and their popularity is boosted by the ability to negotiate excellent discounts either before or during construction.
When compared to pre-built buy-to-let properties, buying off-plan has a slightly different purchase process; however, once familiarized with the general process and the additional benefits, investors frequently find an off-plan property to be an incredibly viable investment option.
There are many benefits in purchasing an off-plan property in Nigeria today – here are a couple of important ones.
Purchase prices are considerably below average
The ability to secure the purchase at a lower price than market value is one of the significant advantages of purchasing a property off-plan in Nigeria. This occurs frequently as a result of developers trying to sell as many units as possible before completion or demonstrating a certain level of sales before marketing the property. As an added incentive, some Nigerian property developers also provide additional discounts to investors who buy multiple properties at once. Companies like The Magnificent offer great Off-plan properties for their investors to enable them to get bigger returns on their investments.
Your capital growth is a must and it is strong
Those who buy off-plan benefit the most from rising house prices. If a property is purchased today but not due for completion for another two years or more, when the property is finally built, investors who purchased then will have seen their property grow in value each year. This will greatly increase the value of the purchased property, especially if it was purchased at a discount from the start.
Reselling at a profit before completion
Investors have the option to put their properties up for sale and sell at a higher market value because it is almost certain that their properties will increase in value before they are finished. Although this can be a good strategy for investors looking to turn a quick profit, renting out your property and receiving regular rental income in addition to capital growth will benefit you much more.
Small deposits and Instalment Payment Plan
Some off-plan deals have the added benefit of staged payments, depending on the developer and the property. These payments can help spread the cost of the purchase and allow investors to buy property without a large down payment. Good off-plan property that you can pay a small deposit and then enjoy a flexible instalment payment plan is Reign Homes a development by The Magnificent.
For more information about investing in an affordable off-plan property in Nigeria, you can call us at 09062834201 or 09062834202 we’d love to help you.