There are many reasons why off-plan property in general and in particular in Kefalonia is interesting to investors.
Off-plan properties offer an excellent opportunity for investors looking to buy properties at a price that is generally below the market value. In addition, most development companies are prepared to offer a lower price when the project is in the earliest stage of its development and then the prices increase as the project develops.
Properties are sold at a discounted rate from the market value because developments companies are always exposed to a certain amount of risk when starting a new project. By selling the properties at a discount, they can easily attract the investors and therefore the funding they need to decrease bank loans and development costs. When purchasing off-plan, the investor also only gets to see floor plans and architects drawings/impressions since the actual property has not been built yet. In return for purchasing property that cannot be used right away, the investor receives a financial incentive in the form of a lower asking price.
The investor usually only needs to pay around 30% of the value of the purchase in the form of a deposit, the remainder is payable in agreed stages of completion and this can obviously be financed by a mortgage.
Investors who do not plan to keep the property and wish to sell before completion, will capture the appreciation of the entire property value, whilst only having invested for example 30%. Other buyers may decide to hold onto the property and rent it out and this is known as buy-to-let property.
So in summary, off-plan properties offer both an excellent price and allow time for the market value to increase before the final payments are made.
Key points to remember
Buy early in a relatively new market here and benefit from the capital growth appreciation as the market becomes established
Be involved in some of the exciting new developments being built around the island - being an early investor you will benefit from the biggest gains
Some of the off-plan developments offer guaranteed rental incomes in addition to great value for money
Exodus Abroad are a leading property development consultancy in Kefalonia with proven experience in providing buyers with professional guidance and access to the following services:
Excellent quality homes at realistic prices with low fees
Unrivalled construction quality with full 5 year guarantee
Inspection trips of 2 - 3 days
Property is offered with full mortgage approval from major banks
We offer you peace of mind with a completely secure buying process
We build quality homes in great locations, with full guarantees at realistic prices so that you get more investment value for your money. We operate to your own agenda with a tried and tested method of locating land for development, residential property and holiday investment property in Kefalonia and provide excellent customer service from beginning to end.
We offer investors a wide choice of off plan investments ranging from projects of two, four, eight and ten individual homes together, right through to large investment projects that require vast areas of land. We have access to the best plots of land on the island from 500 m2 right up to land of over 3,000,000 m2.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
