Do your research
It is important to study the floor plans, location, square footage, aspect, and reputation of the developer.
As with any investment, property can go down as well as up and there is no guarantee of future performance. With this in mind, we strongly recommend you carry out your own research to satisfy yourself that:
- The information you obtain (including information in relation to local infrastructure, amenities and rental prices) is current, and are aware that it may be out of date when the development reaches completion.
- The information you obtain from estate agents and other third parties is accurate.
- The valuation you obtain is appropriate, and conducted by a professional body.
- The developer has a sound, reliable reputation; there is always a possibility that the developer may become insolvent and/or the development may complete late. You need to be aware that there is a risk that you may lose your deposit if the developer becomes insolvent.
- You are prepared for the open market value of property to go down as well as up, and are aware that there are no guarantees of future capital appreciation or rental income.
- Consider also the aspect of the unit you wish to buy. Think about where your unit is positioned within the development because this could greatly affect rental income and resale.
We recommend that you instruct a solicitor (or other appropriately qualified individual in the country that you intend to purchase your property), to make sure that you have sufficient safeguards against any risks associated with the purchase of the property.
See Instant Access Properties' Pre-Vetting and Managing Risks sections to find out more about the risks associated with off-plan property investment, and how we can help you to mitigate these risks.