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Off-plan properties are real estate developments sold directly by the developer to buyers before construction is completed. These purchases typically follow a structured payment plan tied to key construction milestones. In some cases, payments may continue even after the property is handed over—this is referred to as a post-handover payment plan.
Off-plan property finance allows buyers to secure a mortgage on a property before construction is fully completed. Whether the payment plan runs up to the handover or extends beyond it (post-handover), financing options can help ease cash flow and make the investment more manageable.
However, it's important to note that off-plan financing is only available for a select number of projects and approved developers. For more details and to explore your options, feel free to get in touch with us.
Off-plan property finance becomes available once the property has reached at least 50% completion and the buyer has paid a minimum of 50% of the property value to the developer. The financing bank will cover the remaining payments in line with the developer’s payment schedule, validating each installment against an official statement of account issued by the developer.
Post-handover payment plans can also be financed once the project reaches 50% completion and at least 50% of the property value has been paid. From this point, the bank will disburse payments according to the developer’s payment schedule up until the handover stage.
At the time of handover, the bank will release funds to cover the full outstanding balance for the post-handover payment period. In some cases, developers may offer a discount if the remaining payments are settled in advance of their scheduled due dates.