Advantages of Buying Off-Plan Property in Barcelona

Buying an off-plan property is a very good option for those who want to live or invest in a new construction property and, moreover, it is usually very profitable in cities with high demand and limited supply, such as Barcelona.

Buying off-plan means you are going to acquire a new construction property, whether it's an apartment or a house, before it is completed, based on the plans, renders, and project specifications (quality specifications and delivery times). When you buy an off-plan house, you can make the purchase before construction begins or during the process. Therefore, it's a good idea if you don't need to move immediately and have some time between the purchase and the moment you are going to live in the house.

Advantages of Buying an Off-Plan Apartment 

• Economic Savings: Buying an off-plan property is usually cheaper, and avoiding the revaluation between the purchase and the delivery usually gains you between 10% and 15% of the final value compared to already completed and ready-to-deliver new construction.
• Regarding Contributions and Payment Facilities in the Purchase of a Property:
  • In a finished property, the buyer usually has to contribute 30% of the property's value between taxes and purchase costs (10%) and the part that the mortgage does not cover (20%).
  • In the purchase of an off-plan property, the acquisition process allows for a spaced payment plan because it is divided into 4 phases:
    • Property Reservation: This is an amount that ranges between €3,000 and €15,000 normally as a reservation, which will be deducted from the final price of the property.
    • Purchase Agreement: Once the building permit is in force, the private purchase agreement with the developer is signed. As a buyer, you must contribute the remaining money up to 10% of the final price.
    • Construction Fees: You will agree with the developer on the term and amount of the fees until the end of the construction.
    • Public Deed via Bank Mortgage or Transfer: Depending on the agreement, it ranges between the remaining 70% and 80%.
  • This allows you to pay the down payment of the apartment while it is being built, in comfortable installments.

Another aspect that makes buying off-plan interesting from a financial point of view is that many times the developer includes a certain level of finishes and equipment, such as appliances in kitchens, air conditioning installation, which is negotiated in bulk and results in significant savings for the buyer.

Ability to Choose a Specific Property 

Many buyers have clear requirements for their dream home, and it is important to be agile when you see a project promotion, as the most attractive properties are usually the first to be reserved.

What are the properties most liked by buyers and investors?

Top-floor apartments or penthouses, ground floors with gardens, those with terraces (especially after the pandemic), those that receive more hours of light due to their orientation, and those that are more soundproofed.

At LuxHabitat, we have extensive experience in managing and advising, and we also show you how to calculate the profitability of your property.

Customization of Home Elements 

When acquiring an off-plan property, it is common to make certain adaptations and modifications according to your preferences and tastes as a buyer. There is the possibility to change some designs, the distribution of interior spaces, or improve the materials and equipment of the apartment.

In this case, it is not about designing a different house or altering the fundamental aspects of the property, but rather adapting the color of the walls, fitting built-in wardrobes, choosing the types of floors, the equipment of kitchens and bathrooms...

This really makes the property your home and, at the same time, allows you to invest with the assurance of increasing the value of your property in the long term.

Efficient and Sustainable Developments, New Construction is Energy Saving 

New developments are based on the highest standards and the most current legislation. Today there is great concern in all spheres about energy efficiency and sustainability.

At LuxHabitat, we focus on building sustainable homes where you have the greatest possible well-being, so both the materials and the finishes are of high quality.

Innovative and Modern Developments in Barcelona 

Compared to a second-hand development, when you buy off-plan, you know you are going to have the charm of the new smell, that all materials and structures of the property are of the latest generation.

Innovative, with a careful design, with great attention to all details, that's how we build at LuxHabitat.

Additionally, each of our developments comes with a 10-year warranty from the time we deliver the property. So you don't have to worry about those problems that arise in second-hand properties around installations, insulation, or possible expenses that make you allocate an unexpected budget to updating the property or common areas.

If you want to know more, we advise you to visit our post on why invest in new construction or real estate.

Why Buy Off-Plan in Barcelona? 

Most buyers prefer new construction for the many reasons mentioned above, but the fact is that buying an off-plan apartment in the city of Barcelona has become a great long-term smart investment.

Barcelona receives more than 6 million tourists a year, and is a hub of international talent due to the creation of technological, creative, and digital start-up hubs globally, with neighborhoods like Eixample or @22 in full development and growth, where property values are very likely to increase significantly in the coming years.

The appeal of our new construction developments in Barcelona is indisputable for their strategic locations, we choose the best neighborhoods to live and invest in Barcelona, for their quality, and for the care of each element that makes them the home you've always dreamed of.