Ready or under construction? How to choose between a finished property and buying off-plan

“Should we buy ready or off-plan?” is one of the first questions our clients ask. There is no single right answer, only the answer that fits your goal, your timeline and how much risk you can take.

Ready property

Advantages

1. You see what you buy: the view, the light, the finish, the neighbours and the management.
2. Immediate use: live in it or rent it out from day one.
3. Paperwork usually complete: a final title deed and an iskan (occupancy certificate). See the guide to the iskan certificate.
4. Residence: you can apply right after ownership is transferred.

Disadvantages

• The price is usually higher.
• Payment is often in one lump sum.
• In older buildings: more maintenance and a closer safety check. See the guide to earthquake safety in buildings.

Under-construction property

Advantages

1. A lower price in the early stages.
2. Instalments over the construction period. See the guide to developer payment plans.
3. First pick of floor, view and orientation.
4. A new building built to current regulations.

Disadvantages

• Delay: handover can slip by months or more.
• Changes: the area, finish or facilities may differ from what was promised.
• Non-completion: the most serious risk, and much lower with a reliable developer.
• No income before handover.

Details in the guide to buying off-plan.

Residence and citizenship

• Property-based residence requires a title deed in your name for a residential property. If you buy with only a contract, you apply once the title deed is issued. See the guide to renewing property-based residence.
• Citizenship is possible with an off-plan purchase, under specific conditions in the contract and its notarisation. See the guide to citizenship file mistakes.
• VAT applies to the first purchase from a developer, with an exemption for foreigners under certain conditions. See the guide to VAT.

How to choose?

Choose ready if you:

• Need a home or rental income soon.
• Want residence in the near future.
• Cannot afford the risk of delay.

Choose under construction if you:

• Have time until handover.
• Prefer instalments to paying in full.
• Have found a developer with a record of completed projects, and a project with a building permit and a notarised contract. See the guide to choosing a reliable developer.

The middle ground

A project in its final stages combines part of the price advantage with far lower risk: you can see the structure and the view, and handover is close. When you take delivery, go through the guide to taking over a new apartment.

Summary

Ready buys you certainty and time; under construction buys you price and choice in exchange for waiting and risk. Decide what you need most, then choose.

Browse projects under construction and ready properties, or contact us and we will compare two specific options for you.