Pre-launch is a great time to invest but a risky one. It is bought under the basis that although the applicant has not obtained all of his permits, these are supposed to come through. The question occurs where the permits are overwhelmingly overdue. If you have a risk appetite, you can go for property that has been launched before. There is a high chance however, if the permits arrive early, the return may be very lucrative even in the short term. If you missed the chance, you can also find a newly introduced project run by a respectable contractor in a good spot. This property carries a lower risk.