Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condominium concluded its collective sales tender with offers falling short of its own hold price and has at the moment moved in the confidential treaty negotiation system, reported BT quoting PropNex Realty.

The 309-unit property was commenced for enbloc transaction on 21Oct 2K21 bring a hold rate of $640 million.

PropNex Head of I and CS Tracy Goh think the 10-week private arrangement settlement approach are going to supply attracted individuals “a good amount of opportunity” to review their strategies as well as approaches, given the updated residential property cooling down steps.

” We continue being cautiously hopeful regarding the enbloc transaction tender presented the desirable site location also the reduced new exclusive housing quantity in the nearby locations.”

Normanton Park Floor Plan

The govt introduced brand-new property cooling down measures on 16Dec, that include higher Additional Buyer’s Stamp Duty charges, to control the vitality throughout the property market.

By having the brand-new procedures, real estate investors encounter an ABSD charge of Thirty Five%, up from Twenty Five percent previously. BT presented that home analyzers predict developers being further prudent for their land buys and the en bloc transaction hype to wane out.

Lakepoint Condo is a 99 year leasehold property development that fills beyond Five hundred Sixty Two thousand Two hundred Eighty Six sq ft. Placed alongside Jurong Lake District plus Lakeside train station, the spot is region for Housing use under the ’19 Masterplan carrying a PR of 1.4.

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