Off-plan means buying a home before it's built or while it's under construction. Pre-launch means buying at introductory prices when a project first opens, often land or early phases. Both usually come with lower prices and payment plans.
Why buyers choose off-plan
- Lower prices: early buyers usually pay less than buyers after completion.
- Payment plans: spread payments over months instead of paying in full.
- Potential growth: value often rises as the project and the area develop.
The risks
- Construction delays, or changes to the original design.
- Penalties if you miss instalments, and refund policies that deduct charges.
- Problems with the land title or building approval if they weren't checked.
Your checklist before you pay
- The developer: how long they've operated, and projects they've actually completed. Visit one if you can.
- The land title: ask for the title document and have your lawyer verify it.
- Building approval: for houses and apartments, ask whether the project has building plan approval from the relevant state authority.
- The contract: read the delivery date, what happens if it's late, payment penalties and the refund policy. Your lawyer should review it.
- The payment plan: confirm the total price, any extra fees (documentation, development levy, survey) and whether prices are fixed.
- Payment: pay only into the developer's company account, and get a receipt every time.
- Progress: ask for regular site updates, or a live video inspection, as construction moves along.
This guide is general information, not legal or financial advice. Have a qualified lawyer review any contract before you sign.