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Whats the difference between a new development or off-plan property and an existing freehold?

April 26, 2017Development difference existing Freehold off-plan Property

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Whats the difference between a new development or off-plan property and an existing freehold?

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A new development or off-plan property is a property that is brand new, currently being built, or is in the planning stages ready to begin construction. An existing freehold is a property that has already been built and currently owned by someone else – in effect a second-hand property.