Is pre-construction still a good investment?

The days of pre-construction condos being cheaper than resale are gone, and now they are much pricier per square foot. However, pre-construction properties are still a good investment for those who can wait 3-4 years to see a profit and don't need cash flow right away. One of the advantages of investing in pre-construction properties is that you don't need to have the whole down payment upfront, and the 20% down payment is spaced out over time, allowing investors to use that money for other things in the meantime or have more time to save it up. Another benefit is that you can make a big profit by buying early and selling the contract before occupancy, but making money on pre-construction properties is a long-term play and not for investors looking to turn a quick profit. However, investing in pre-construction properties is expensive, and if affordability is a factor, buying a resale unit is definitely cheaper. Additionally, there is no cash flow, so if an investor needs a renter to be covering their monthly costs from the outset, they are better off investing in something else.