A new launch project means a property development that is still currently under construction. This “sell and build” concept is the preferred method as it allows the developer to manage their cash flow during construction. The developer’s reputation and past performance is an important indicator for such projects. Higher risk equals higher return, which means that once construction completes, the value of the property appreciates at a much higher rate. This is one of the benefit of buying new launch property.
It is extremely important for house buyers to take note of the terms “newly launched” and “pre-launch” during sales because developers are only allowed to launch once they get the advertising permit “AP” and must complete their properties within 3 years, unless extension is obtained from the local state authority. Therefore, it is important to always buy new launch project from strong and reliable property developer.