Buying off-plan property in the UK is often cheaper than buying an existing property.
This is because off-plan property developers will usually offer the property at a discounted sale price to try and entice new buyers.
Properties in the UK can be found at up to 55% below market value prices if they’re off-plan.
Due to property market demand, buyers right now are struggling to find properties available to purchase for their asking price – never mind below.
These affordable property prices offered by new build investments are a breath of fresh air for first-time buyers or buy-to-let investors with a lower budget.
Why Is This One of the Benefits of Investing in Off Plan?
By choosing off-plan properties as an investment, you can buy a property in a desirable UK city for much less than you might pay for a standard property type.
Let’s look at the Liverpool property market as an example. The latest House Price Index data states that the average price in Liverpool is £177,803 as of June 2023.
A property like the Summit, a new build off-plan development located in the Baltic Triangle, has units to purchase for only £139,950.
Property investors who make an off-plan purchase can save money compared to if they purchased an older property.
The money they save could then be put towards another investment, helping the investor build their property portfolio more quickly than they would when buying property with a higher purchase price.