Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo terminated its en bloc deals tender with submissions dipping under of its minimum value and has actually now moved in the confidential arrangement system, published The Business Times specifying PropNex Realty.
The 309 apartment project was introduced for en bloc deal on 21October 2021 bring a hold pricing of $Six hundred Forty mil.
PropNex Chief of Inv and Collective Sales Tracy Goh feel the 10-week private treaty negotiation procedure will certainly offer potential people “enough opportunity” to evaluate their strategies and strategies, given the updated residence cooling down procedures.
” We stand cautiously positive about the collective deal tender presented the captivating plot location and the restricted updated confidential housing supply in the close vicinities.”
The government launched fresh residential property cooling steps on 16Dec, that include increased Additional Buyer’s Stamp Duty rates, to restrain the spirit within the property market.
For the brand-new actions, property developers suffer an ABSD charge of 35%, rise from 25 percentage earlier. BT published that residential property analyzers foresee property developers to be far more diligent with their land possessions and the en-bloc deal hype to blow over.
Lakepoint Condominium is a 99-year leasehold project that fills beyond 5hundred 62thousand 2hundred 86 sq ft. Found around Jurong Lake District and Lakeside MRT terminal, the location is region for Non commercial purpose under the 2K19 Masterplan carrying a land ratio of One point Four.