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.
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Mike Tan | CEA Regn R059706Z | 98280030