Look out for special offers and incentives that may be available when you buy a new build or off-plan apartment. Cash, holidays, white goods and stamp duty payments are all known to have been used by housebuilders to clinch the deal.
What’s more, new-build blocks of flats at the higher end of the price spectrum often come with tempting added amenities included in the price that are hard to ignore. From state-of-the-art security features and underground car parking to 24h concierge services, in-house gyms and swimming pools, they are all aspirational lifestyle accoutrements that appeal to buyers who value convenience and luxury.
Resale properties are much less likely to come with similar benefits. Your investment is based on the property alone, its location, size and overall condition and the terms of the lease. The best bargains are to be had for properties that are in need of updating, though there are restrictions on improvements and alterations you can make in a leasehold flat. Short-lease properties are another cheaper option. However, unless you are a confident real estate player or you are prepared to have the lease extended, be advised that this choice is not for the faint hearted.