The Victorian Government is shaking up the property market with a new stamp duty regulation set to benefit investors. Starting 21 October 2024, buyers of off-the-plan apartments, units, and townhouses in strata developments will enjoy a temporary elimination of stamp duty for one year. This move is part of a strategic initiative to boost housing supply and make investment opportunities more attractive.
This temporary concession opens doors for a broader range of purchasers, including investors, companies, and trusts, removing the previous restrictions tied to principal residence and first-home buyer concessions. By expanding eligibility, the government aims to stimulate the property market, encouraging development and creating more opportunities for savvy investors.
For those purchasing off-the-plan, the new concession means significant savings. By deducting construction costs incurred post-contract from the purchase price, investors can benefit from a drastically reduced dutiable value. For example, the stamp duty on a $620,000 apartment could drop from $32,000 to approximately $4,000 — that’s a potential saving of $28,000!
Now is the perfect time to explore Victoria’s property market and capitalise on these changes. If you’re interested in exploring opportunities, reach out to Property Club at enquiries@propertyclub.com.au and let’s secure your next investment!
Understanding the broader economic trends impacting household spending can reveal potential opportunities for property investors. Recent insights from the CommBank Household Spending Insights (HSI) Index for April 2025 provide a few key takeaways that investors should consider as they plan their next moves. Lower...
The recent Australian Bureau of Statistics (ABS) media release highlighted a remarkable 124% growth in the national defence industry over the past five years, with South Australia emerging as a critical player. This surge is not just a boon for the state’s economy but also signals a unique opportunity for property...
For investors looking to maximise capital growth without the premium price tag, second-tier suburbs – those located just outside the most prestigious postcodes can offer an appealing alternative. These areas often benefit from the same lifestyle appeal and proximity to key amenities as their high-profile neighbours,...
Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.