Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condo ceased its collective transactions tender with bids plunging short of its reserve pricing and has now moved in the exclusive treaty settlement procedure, mentioned The Business Times specifying PropNex Realty.

The Florence Residences Floor Plan

The 3hundred 9 unit development was introduced for enbloc transaction on 21October 2K21 bring a reserve rate of $6hundred 40 million.

PropNex Chief of I and CS Tracy Goh think the 10-week exclusive treaty agreement operation are going to give attracted parties “ample opportunity” to review their plans and strategies, granted the fresh residence cooling measures.

” We stay cautiously confident relating to the enbloc sale bid delivered the appealing plot area as well as the short amount of brand new confidential home quantity in the close vicinities.”

The govt presented fresh property cooling measures on 16Dec, include greater ABSD charges, to control the exuberance inside the housing market.

With the fresh steps, property developers suffer an Additional Buyer’s Stamp Duty premium of Thirty Fivepercentage, increase from Twenty Five percent previously. The Business Times announced that residential property analysts expect property developers being extra prudent for their land purchases and the en bloc sale buzz to blow over.

Lakepoint Condominium is a 99 year lease term property that fills beyond 5hundred 62thousand 2hundred 86 sq ft. Located near Jurong Lake District plus Lakeside MRT terminal, the location is sectioned for Non commercial usage beneath the 2K19 Masterplan holding a land ratio of 1.4.

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