Further stamp duty and tax cuts to stimulate new apartment market
Property hunters in Victoria will welcome a host of new State Government purchaser incentives as part of the 2021-22 budget, with people eying new off-the-plan homes valued at $1 million set to be the biggest savers, courtesy of slashes to stamp duty and administrative taxes.
Between Thursday 1 July 2021 to Thursday 30 June 2022, a new 50 per cent concession will be available for new residential properties worth up to $1 million that have been listed for less than 12 months.
For unsold new homes that have been on the market for more than 12 months, one of the biggest incentives purchasers can take advantage of is a 100 per cent stamp duty concession for off-the-plan or newly completed residences that meet this criteria. Melbourne Square has several apartment opportunities eligible for this enticing waiver, meaning people can buy, settle and move straight in!
To find out more about our range of apartment opportunities eligible for these once-in-a-generation savings for homebuyers, please book a private appointment via this link.
Click the button below to read more about the new stamp duty and tax savings coming at the start of the new Financial Year.
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