GlossaryRight_to_first_purchase

What means Right to first purchase?

The right of first purchase allows you to purchase a property within a stipulated time frame at a previously negotiated price, during which the property cannot be sold to others. Municipalities also often employ this right for specific areas and plots to implement their strategies and curb land speculation.

If you are a tenant, following the end of the rental period, you can have the right to purchase the rented property. This should be stated in a clause in the rental agreement, at a reasonable market price.