Windy Heights’ $806.2 million reserve price is unchanged from the earlier collective sale attempt, but marketing agent Knight Frank Singapore said yesterday that “owners are going through a re-signing process to revise the reserve price”. If enough owners agree, the price tag will drop to $750 million.
Windy Heights cuts reserve price in 2nd stab at collective sale
Aug 2, 2018, 5:00 am SGT
The Windy Heights condominium in Kembangan is having another stab at a collective sale, with some owners ready to cut the reserve price to attract buyers in a cooling market.
The move comes hot on the heels of a failed bid for the freehold District 14 development that ended in April without a successful tender being lodged. It also comes after tough new property cooling measures kicked in on July 6.
The $806.2 million reserve price is unchanged from the earlier attempt, but marketing agent Knight Frank Singapore said yesterday that “owners are going through a re-signing process to revise the reserve price”. If enough owners agree, the price tag will drop by 6.97 per cent to $750 million.
