Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo closed its enbloc transactions tender with offers dipping under of its own minimum amount and has actually now entered the exclusive treaty settlement system, presented BT mentioning PropNex Realty.
The 309-unit development was launched for en-bloc transaction on 21October this year lugging a conserve value of $640 million.
PropNex Director of Inv and Collective Sales Tracy Goh think the 10 weeks confidential treaty arrangement process will definitely provide attracted people “considerable moment” to assess their strategies as well as methods, granted the fresh housing cooling strategies.
” We continue being carefully confident concerning the enbloc sale tender delivered the desirable site location and also the limited fresh private real estate supply in the immediate areas.”
The government presented fresh property cooling actions on 16 Dec, which include greater ABSD charges, to restrain the exhilaration throughout the property market.
For the brand new steps, developers experience an Additional Buyer’s Stamp Duty rate of 35percent, rise from Twenty Five percent formerly. The Business Times published that home experts imagine property developers to get further watchful with their land possessions and the cumulative sale buzz to blow over.
Lakepoint Condo is a 99 year leasehold property in which covers over Five hundred Sixty Two thousand Two hundred Eighty Six sq ft. Located alongside Jurong Lake District and Lakeside train station, the location is zoned for Residential usage beneath the ’19 Masterplan with a PR of One point Four.
