Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condominium ended its cumulative sales tender with offers plunging under of its minimum rate and has actually at the moment entered into the private treaty arrangement system, presented The Business Times citing PropNex Realty.

Pollen Collection Floor Plan

The 309 unit property was introduced for cumulative sale on 21 Oct 2021 carrying a reserve rate of $6hundred 40 million.

PropNex Director of Inv and Collective Sales Tracy Goh consider the 10 weeks nonpublic treaty discussions operation are going to present potential people “adequate time” to go over their strategies also strategies, granted the brand new residence cooling steps.

” We remain cautiously encouraging regarding the cumulative sale tender presented the captivating spot location furthermore the limited brand-new private real estate supply in the immediate neighborhoods.”

The government launched fresh property cooling down measures on 16Dec, include increased Additional Buyer’s Stamp Duty charges, to tame the spirit present in the real estate market.

By having the updated actions, developers encounter an Additional Buyer’s Stamp Duty charge of 35%, up from 25 % in the past. BT mentioned that home analysts anticipate real estate investors to stay much more prudent on their land purchases and the enbloc deal hype to blow over.

Lakepoint Condo is a Ninety Nine yr lease term property in which takes up accross 5hundred 62thousand 2hundred 86 sq ft. Located close-by Jurong Lake District and Lakeside Mass Rapid Transit station, the site is region for Housing usage under the 2019 Masterplan holding a land ratio of One point Four.

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