Buying a property which is not yet constructed is a popular option in many real estate locations including the USA, Caribbean, the Middle and Far East, and the EU. Terminology may vary from one location to another and include a Pre-constructi
on Project, Off-Plan Purchase or a Stage Payments Purchase.

The basis of the deal is that the property developer, for a variety of legitimate reasons, does not wish to construct properties on a speculative basis and then attempt to find buyers for them.