Why are London new homes sold off market?
New homes in London might be sold off-market for several reasons, which means they are not publicly advertised on property listing websites or through traditional estate agents. Some of the main reasons include:
Privacy and discretion: High-net-worth individuals or celebrities often prefer to buy properties discreetly to maintain their privacy. Selling off-market allows developers and sellers to cater to this exclusive clientele without drawing public attention.
Exclusive marketing: Developers may choose to market their new homes directly to a select group of potential buyers, such as existing clients, investors, or buyers who have previously expressed interest in their projects. This can help them maintain control over the marketing process and potentially secure higher prices.
Pre-market sales: Some developers may sell a portion of their new homes off-market before officially launching a development. This can help them gauge buyer interest, secure early sales, and potentially attract more buyers when the project is officially launched.
Testing price points: Selling off-market allows developers to test different price points and adjust their pricing strategy before a public launch. This can help them maximize profits and avoid over- or under-pricing their properties.
Reducing marketing costs: Advertising and marketing new homes can be expensive. By selling off-market, developers can save on these costs and potentially pass on the savings to buyers in the form of lower prices.
While these are some of the reasons why new homes in London might be sold off-market, it is essential to remember that not all new homes are sold this way. Many new developments are marketed publicly, with properties listed on popular property portals and through traditional estate agents.
Off Market London Mews House