Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condo closed its cumulative deals bid with offerings stumbling short of its minimum rate and has actually now entered the exclusive treaty settlement process, presented The Business Times specifying PropNex Realty.

The 309 apartment property development was opened for en-bloc transaction on 21Oct 2K21 lugging a minimum price of $Six hundred Forty million.

PropNex Director of I and CS Tracy Goh strongly believe the 10-week nonpublic arrangement discussions system will certainly provide potential people “considerable opportunity” to evaluate their plans and also strategies, granted the brand-new residence cooling down measures.

The Avenir Floor Plan

” We stand meticulously encouraging with regards to the cumulative transaction tender presented the enticing site area and the minimal brand-new confidential property supply in the immediate vicinities.”

The govt announced updated property cooling down measures on 16 December, which include increased Additional Buyer’s Stamp Duty premiums, to control the spirit among the housing market.

By having the brand new procedures, real estate investors face an Additional Buyer’s Stamp Duty rate of Thirty Five%, raise from 25 % earlier. BT mentioned that real estate analysts predict real estate investors to get much more aware for their land purchases and the collective sale hype to blow over.

Lakepoint Condo is a Ninety Nine years lease term property development that occupies over 5hundred 62thousand 2hundred 86 sq ft. Found near Jurong Lake Area and also Lakeside MRT terminal, the site is zoned for Residential purpose under the 2K19 Masterplan with a PR of One point Four.

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