Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condominium ended its cumulative deals tender with proposals falling under of its hold pricing and has actually at the moment moved in the exclusive arrangement agreement procedure, reported BT pointing out PropNex Realty.

The 3hundred 9 unit project was commenced for collective transaction on 21 October 2021 lugging a minimum pricing of $640 million.

19 Nassim Floor Plan

PropNex Director of Inv and Collective Sales Tracy Goh consider the 10 weeks exclusive treaty agreement procedure will certainly furnish interested parties “considerable moment” to assess their strategies and approaches, presented the new residence cooling strategies.

” We continue to be cautiously favorable relating to the enbloc sale bid offered the desirable site area furthermore the restricted brand new private home supply in the proximate locations.”

The govt launched fresh residential property cooling procedures on 16Dec, which include increased ABSD rates, to restrain the spirit among the housing market.

With the brand-new steps, property developers encounter an Additional Buyer’s Stamp Duty rates of Thirty Fivepercentage, rise from Twenty Five percent previously. BT presented that home analyzers predict property developers to get much more cautious with their land purchases and the cumulative sale hype to die.

Lakepoint Condominium is a 99-year lease term project that holds more than 562,286 sq ft. Located nearby Jurong Lake Area and also Lakeside MRT station, the spot is region for Housing utilization beneath the 2K19 Masterplan with a PR of 1.4.

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