Limassol's Best Kept Secret: 8 Benefits of Buying an Apartment Pre-Sale
Buying a property is a big decision that requires careful consideration and planning. Choosing the route of buying a pre-sale property, also known as “off-plan” meaning at the planning stages of the development, is often a smart move for those looking to maximise their investment potential.
Pre-sale apartment purchases are becoming increasingly popular in Limassol, and for good reason. By buying pre-sale, when you’re willing to wait, you have the opportunity to secure a brand-new unit at a much lower price and customise it to your own preferences.
At First Class Homes, we appreciate the significant investment our clients make when purchasing a property and our goal is always to provide the best information available to help make the best decision for their situation. In this blog, we will discuss the top 8 advantages of buying an apartment pre-sale in Limassol. If you stick to the end, we will also introduce our latest project “The Access”, located in Potamos Germasogeia, Limassol, now available for Pre-Sale!
Reason #1: Lower Prices (Cost Savings)
One of the main benefits of buying an apartment pre-sale is the cost savings that the deal can offer. Typically, developers offer pre-sale pricing, which is often lower than the completed price. This is especially true in a fast-growing property market such as Limassol, Cyprus.
This is because developers aim to sell a certain percentage of units before construction is finished, to help cover their costs and minimise risk. By purchasing an apartment during the pre-sale phase, buyers can lock in a lower purchase price, resulting in substantial cost savings.
Reason #2: Better Selection (More Options to Choose From)
When buying an apartment pre-sale, you benefit from a wider selection of units than when the building has already been completed. Whether you prefer windows facing the sunrise or sunset, a balcony that is sheltered from the wind, or the top floor pent-house - you get the chance to choose your favourite unit in the building.
Developers also typically offer a wide range of floor plans and finishes to choose from, allowing buyers to tailor their home to their exact preferences.
Also, pre-sale buyers may be offered a range of amenities and upgrades that will not be available to those who purchase a completed unit. This includes balcony sizes, high-end appliances or open-concept layouts. This means that buyers can customise their space according to their lifestyle and needs.
Whether you’re looking for a bigger balcony, high-end appliances, or an open-concept living area, buying pre-sale can give you more options to choose from.
Reason #3: Flexible Payment Terms
Developers understand that buying a new property is a significant investment and they will often accommodate buyers to make the process easier. This can include extended payments plans or the ability to spread payments out over a longer period of time.
Flexible payment terms can be particularly helpful for first-time buyers who may not have the financial resources to make a large upfront payment. By spreading the payments out over a longer period, buyers can manage their finances more effectively and avoid financial strain.
Sometimes, developers may also offer better interest rates on the payments compared to bank loans or mortgages. This can save buyers a significant amount of money in the long term and make the purchase more affordable. Payment flexibility may also benefit bulk purchases for investors looking to negotiate a better deal on multiple units.
Reason #4: Capital Appreciation
In addition to the cost savings and flexibility in payment terms, buying an apartment pre-sale also offers buyers the potential for significant capital appreciation. As the Limassol real estate market continues to grow, so does the value of pre-sale properties.
When buying pre-sale, buyers are essentially buying into the future value of the property. As construction progresses and the property nears completion, its value is more than likely to increase. This means that buyers who purchase pre-sale apartments are likely to see a significant return on their investment once the property is completed and they decide to sell it.
Additionally, the increasing demand for properties in Limassol, coupled with the limited availability of land, means that property values are expected to continue to rise in the long term. By purchasing an apartment pre-sale, buyers can take advantage of this trend and benefit from the potential for capital appreciation in the future.
It is important to note that while capital appreciation is not guaranteed, it is a potential benefit of buying an apartment pre-sale. Buyers should do their due diligence and research the market trends in order to make an informed decision about their investment.
Reason #5: Higher Rental Yields
Investing in a pre-sale apartment not only provides buyers with a modern and well-constructed home, it can also result in a higher resale value. Pre-sale properties are often built to the latest quality standards and located in sought-after areas, which increases their market value.
Since these properties are built to a higher standard, they attract buyers who are willing to pay a premium price. This is especially true for the Limassol real estate market, where the demand for high-quality, well-located properties is constantly increasing. By buying an apartment pre-sale, buyers can take advantage of these market conditions and potentially increase their future profits.
Reason #6: Reduced Maintenance Costs
The obvious benefit of buying a brand-new property is that it has not yet been lived in. This means that the building and its amenities are likely to be in good condition, requiring less maintenance in the short term. Additionally, many developers offer a warranty period for new properties, which can further reduce maintenance costs.
The reduced maintenance costs associated with pre-sale apartments can make them an attractive option for buyers who want to avoid unexpected repair expenses and ongoing upkeep costs on their investment.
Reason #7: Better Energy Efficiency
Developers use the latest materials and construction techniques to ensure that their new building meets high standards for insulation, ventilation, and lighting. As a result, apartments bought pre-sale tend to have better energy efficiency than older properties, which can translate to lower utility bills for the owner.
In addition to lower utility bills, having a good energy efficiency rating can be a major selling point when it comes time to resell the property. In Cyprus, all properties are required to have an energy efficiency rating, which is calculated based on factors such as insulation, ventilation, and heating/cooling systems. A higher rating can help the property stand out in a competitive market, and be more attractive to buyers who are looking for a property with lower running costs.
Reason #8: Early-Bird Incentives
Early-bird incentives are often introduced by developers to help sell a set of units early on, in order to reduce their costs and risk burden. These incentives can include discounts, free upgrades, and special financing options. By purchasing a property before it's completed, developers are often willing to offer these incentives to attract initial buyers.
These incentives can result in significant cost savings for buyers, allowing them to purchase a high-quality property at a more affordable price. For example, a developer may offer a discount on the purchase price of an apartment for buyers who sign a pre-sale contract before a certain date. Similarly, free upgrades may include such things as higher-end finishes or additional amenities on the deal.
Read the Benefits of a Pre-Sale Offer with First Class Homes
Buying an apartment pre-sale offers a range of unique benefits to your real estate investment decision, including potential cost savings, better selection, flexible payment terms and much more. These advantages make pre-sale purchases an attractive option for those looking to buy an investment property or a new dream home.
At First Class Homes, we take pride in developing high-quality residential projects that offer unparalleled luxury living experiences to our clients. Our latest development, The Access, located in the prestigious area of Potamos Germasogeia in Limassol, Cyprus, is an excellent investment opportunity for pre-sale investors.
Featuring a broad host of amenities, The Access complex offers a spa, fitness facilities, restaurants, cafés, mini-markets and several common swimming pools for the residents’ enjoyment. The project comprises 3 to 4 residential blocks of apartments, an office building, and a clubhouse, covering a total area of 7,784 square metres. The residential blocks feature 1-2 and 3-bedroom apartments as well as 3-bedroom penthouses, all with spacious verandas and layouts ranging from 50 to 170 square metres. The project is secured by a gated entrance, and elevators, covered parking, and storage rooms are available for residents.
Learn more about The Access here.
Choose First Class Homes and invest in "The Access" for a luxurious lifestyle and a profitable investment opportunity!