Platform Terms · Basic level · 3 min read ·
What is lista 0 (pre-sale)?
Lista 0 is the first price list of a real estate project, the pre-sale one: it is offered before the commercial launch or in its first days, when the project doesn't physically exist yet. Prices are usually the lowest of the cycle because whoever comes in first takes on more uncertainty.
In 30 seconds
- It is a project's earliest entry price, before the lists that follow.
- The lower price makes up for the extra uncertainty of coming in early.
- Prices rising in later lists doesn't mean the property is already worth more.
Why should you care?
In a project, the entry price changes over time. Knowing when you come in tells you how much uncertainty you are taking on and why the price is what it is.
- You read price lists as stages of risk, not as discounts.
- You tell the list price apart from the finished asset's real value.
- You understand why projects open in stages with different prices.
Think of it as buying a festival ticket before the full line-up is announced
The first batch of tickets is the cheapest, because you don't know the full line-up yet. Later batches cost more because there is more certainty. Lista 0 works the same way: you pay less in exchange for coming in while more questions are open.
How does lista 0 work?
- 1
The project sets its lists
Before opening, it fixes how many units or participations each list has and at what price.
- 2
Lista 0 opens
It is offered first to a small group, sometimes before the public launch, at the lowest price.
- 3
When it sells out, the next opens
Once the planned amount sells or a construction milestone is met, the list moves to 1, 2, 3, with prices that usually rise.
- 4
Final value shows at the end
What the asset is really worth depends on how it is built and run and on the market, not on the list number.
An example with numbers
As arithmetic, unrelated to any project: a project opens lista 0 at 100 units per participation and each following list adds 5 units.
| Lista 0 | 100 |
|---|---|
| Lista 1 | 105 |
| Lista 2 | 110 |
| Lista 3 | 115 |
| Difference between lista 0 and lista 3 | 15 |
Whoever came in at lista 0 paid 15 units less than whoever came in at lista 3. That difference is the price of the uncertainty of coming in early, not a profit: it only becomes a gain if the asset ends up worth more.
Where do you see it at Circular Urban?
At Circular Urban, the closest thing to price lists is waves: each wave of a project has its own participation price and number of participations available. When a wave sells out, the next one may open at a different price. Results are subject to project performance.
- Each project's page, with the active wave's price.
- The Coming soon notice, with the countdown to the next wave.
- The Notify me button, to hear when a wave opens.
What changes in your finances once you get it
You put the price in context
You know a lower early price comes with more open questions.
You don't mix up price and value
The next list costing more doesn't change what the asset is worth today.
You choose your moment
You decide between coming in early with more uncertainty or later with more information.
Common mistakes
- Myth
If lista 3 costs more, my lista 0 participation is already worth that.
- In reality
A new list's price is that moment's sale price, not a valuation of the asset. Value materialises when you sell or at the project's exit.
- Myth
Lista 0 is a discount.
- In reality
It is the price of coming in while there is more uncertainty: about the works, the timeline and the market.
- Myth
Every project has a lista 0.
- In reality
It is common in off-plan projects, but each project sets its own stages and prices.
Test yourself
You came in at lista 0 at 100 units and lista 2 opens at 110. What does that 10-unit difference mean?
Keep learning
This content is educational. Every participation carries risks inherent to the project, including the possibility of partial or total loss, and results are subject to each project's actual performance.
