Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo closed its collective transactions bid with offers dipping short of its own hold pricing and has recently at the moment gotten in the confidential treaty arrangement operation, reported The Business Times mentioning PropNex Realty.
The 309-unit property was debuted for enbloc sale on 21Oct this year carrying a conserve pricing of $Six hundred Forty mil.
PropNex Head of Inv and Collective Sales Tracy Goh strongly believe the Ten weeks private treaty agreement operation will certainly present attracted parties “enough moment” to evaluate their plans and also strategies, granted the new housing cooling down measures.
” We remain meticulously favorable regarding the cumulative sale tender provided the eye-catching spot area furthermore the reduced updated exclusive property quantity in the close vicinities.”
The government presented brand-new real estate cooling down actions on 16December, include increased Additional Buyer’s Stamp Duty rates, to control the spirit inside the housing market.
With the new procedures, developers encounter an ABSD premium of Thirty Fivepercentage, rise from 25 percent earlier. BT made known that residence experts predict real estate investors to stay beyond cautious for their land buys and the cumulative transaction buzz to die.
Lakepoint Condominium is a Ninety Nine yr lease term project in which covers over 562,286 sq ft. Situated alongside Jurong Lake Area and also Lakeside train station, the plot is sector for Housing purpose under the 2K19 Masterplan holding a lot ratio of One point Four.