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Real Estate vocabulary · Property Types & Features

Off-plan

Meaning in real estate, with examples

adjectiveCommon term

In real estate, off-plan means: Bought or sold before the building is finished, or even started, based on plans, drawings and a show flat rather than the real property.

In Turkish: projeden, topraktan, maketten

How it is used

British and international English; Americans often say pre-construction. Developers sell off-plan to raise money early, often at lower prices. Buyers talk about buying off-plan and about the completion date, when keys are handed over.

Example sentences

  1. We bought the flat off-plan two years ago, and the keys are due in spring.

  2. Off-plan prices are about 15% lower than for finished units.

Common collocations

  • buy off-plan
  • off-plan property
  • off-plan sales
  • off-plan development
  • certificate of occupancyAn official document from the local authority confirming that a building was built according to the rules and is safe for people to use or live in.
  • apartmentA set of rooms for living in, usually on one floor, that forms one unit inside a larger building with other similar units.
  • residentialUsed for, or made up of, homes where people live, as opposed to offices, shops or factories.
  • flipTo buy a property, often improve it quickly, and sell it again within a short time to make a profit.

More terms: Property Types & Features

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