Property prices for new properties are generally the lowest before launch. The buyers deliberately take such a step to arouse initial interest in the project that is about to start. Builders even offer rock-bottom prices to boost initial sales, which can act as a catalyst to market the project and increase potential future sales. Pre-releases can be divided into two broad categories: soft release and pre-release.
It is common for different builders and developers to market projects, sometimes even before receiving essential building permits from various authorities. Such a first start, also known as a pre-launch, helps the builder to get an initial cash flow to oversee the construction activity of the projects.
With a growing number of real estate companies and increasing competition, not every project may be financially beneficial to the builder. This pre-launch also allows the maker to measure user interest in the project before investing significantly. The stakes are even for the builder, and the pre-launch gives him the right opportunity to test the waters.
However, it is essential to note that a builder-agent nexus also works together on soft-launch bookings. Brokers often influence buyers to park their money during such releases, which is not necessarily in their favor. Once the project is launched, pre- buyers can make a quick buck by selling their rights to a new buyer. Because these buyers had initially assisted the builder by providing a good cash flow, the builder generally allows such buyers to sell their property as a mutually beneficial business practice.
After the Pre-launch, the subsequent step is typically pre-release. Pre-release duration occurs earlier than the beginning of any production activity, despite the builder being prepared with required permissions for the challenge in most cases.
While pre-release enables a marketplace buzz across the property, the presentation of reductions doubles up as a first-rate advertising tool. The customers are also similarly keen to put money into such pre launches because it gives a terrific rebate on the general charges if the challenge finishes according to its schedule.
Prestige Lavender Fields is a prelaunch apartment by Prestige Group.