Overseas property agents and developers have revealed that buyers are showing renewed interest in off plan property abroad Overseas Property Professional magazine has reported (login needed).
The article says:
Overseas agents for destinations from Australia to Brazil are reporting successful sales of properties that haven’t been completed or even started, often because there is little other choice for the buyers. Hamptons International is seeing continued interest for off-plan projects in Morocco, while sales are rising in the completely off-plan market of Abu Dhabi, according to consultancy Landmark Advisory.
"The majority of our overseas clients actually purchase property in the off-plan stage,” said Denise Casey of investment agent Australian Property Solutions. Greater choice and tax incentives make off-plan purchases more attractive, she said. “As well as these reasons, Australia has a chronic housing shortage in most of its major cities, thus there is quite a supply and demand imbalance."
Developers, too, are recording strong off-plan sales. In its Caribbean resorts, developer Harlequin Properties is selling around 400 off-plan properties a month, while Barrasford & Bird Worldwide is enjoying one of its busiest sale seasons for two years at Halcyon Hills in Greece.
One reason mentioned for the rise in off plan sales is the off plan property is primarily what overseas buyers find when searching for property online. That rising off plan sales is the natural outcome of rising activity in the overseas property market.
This is certainly true of the Calabrian property market; where there is an abundance of off plan properties, key-ready properties are few and far between, and resale properties are like hen's teeth.
Thus, the Calabrian property market will undoubtedly benefit massively from off plan property's return to grace.
View Calabria property for sale off plan.
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