Off-plan or completed property in Thailand: a buyer comparison

The short version for your client

If your client wants to spread payments and can wait two to three years, off-plan usually offers a lower entry price and a choice of the best units. If your client wants income or personal use within months, completed property is the answer, even at a higher price. That sentence covers most cases.

Side by side

Criteria	Off-plan	Completed
Entry price	Lower at launch; developers raise prices in stages	Market price, sometimes with a resale discount
Payment	Reservation, then 20 to 30% at contract, then instalments through construction	Full payment at transfer, usually within 30 to 60 days
Unit choice	Best floors and views available	What is left or what a resale owner offers
Rental income	Starts after completion, typically 2 to 3 years	Can start immediately
Construction risk	Present; depends on developer track record	None
Inspection	Show unit and plans only	Walk through the actual unit
Registration	At completion, after final payment	At transfer

What to check for an off-plan project

Three things, and the local team should be able to answer all three without hesitation. First, the developer’s completed projects, with names and years. Second, the EIA approval and construction permit, because a project without them is a brochure, not a building. Third, the payment schedule and what happens if completion is late. Thai law and standard contracts include remedies, but their strength varies by developer.

What to check for a completed unit

Whether the foreign quota is still available in that building. Whether there are unpaid common area fees or sinking fund arrears on the unit. The condition of the building’s reserve fund, because a building with an empty reserve will levy special assessments sooner or later. And, for rental buyers, the actual occupancy and rate history rather than the projected figures.

The mistake to avoid

Do not let a client choose off-plan just because the brochure yield looks higher. Projected yields on off-plan assume a finished building, a full rental programme and a market three years from now. Completed units have a history. Neither is wrong; they are simply different products for different clients.

How the referral works in both cases

You record the client and the brief in the partner account. The IBG Property team in Phuket or Pattaya presents both options where relevant and lets the client decide. Your commission is paid after the transaction closes; for off-plan projects the trigger is defined in the partner terms. Details are on the commission page.