What is off-plan property?

Buying off-plan means you’re buying in a new development that has yet to be completed.

You only have to start repaying your bond once construction is complete. This gives you months, maybe even years, to save for the repayments and budget accordingly.

You pay no transfer duty. Transfer duty, a tax paid to SARS, is normally required on properties worth more than R1 100 000, but does not apply where the purchase price includes VAT.

People like buying off-plan because you’ll be the first to live in the property. Additionally, new developments can be equipped with state-of-the-art technology and security.