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Limited-time offer! Investing in the apartments before 30 June 2022 with stamp duty exemption!

Source:

sro; melbournequarter; urban


Investing in real estate outside the country can be a concern for investors. When purchasing an apartment overseas, you'll need to take into account the cost, taxes and utilities. There are also other things to consider such as location, amenities and security. So, this article is written to alleviate your concern. Before that, there is good news about this. Victorian government had released an announcement regarding the purchases of residential property within the City of Melbourne, as stated in the following paragraph, which may bring huge benefits for the investors.


· Stamp duty concession or exemption

Until 30 June 2022, only for the apartments located in the City of Melbourne, the buyers will enjoy a 50% stamp duty concession as long as the price does not exceed $1 million. A full exemption will be available for the new apartments that have remained unsold for 12 months or more since the completion of construction. Foreign purchasers are also entitled to the concession or exemption. Although it does not apply to the foreign purchaser additional duty component of the transaction, it still saves a lot for you. For example, you can save up to $27,500 if you purchase an apartment of $500,000. The stamp duty was originally 5.5% but now it is fully exempted, isn’t it quite worth to purchase a new apartment in Melbourne within this period? Additionally, Victorian does not have residency requirement for PR.

· Low interest rate

Foreign purchasers can apply mortgage loan in Australia and the interest rate on mortgage loan is as low as 3.88%. Compared to China, the lowest first-home loan interest rate in China is 4.9%, which is much higher than Australia. On the other hand, some people may prefer to rent instead of purchasing a property. But in the long run, you are just helping the landlords to pay off their home loan without owning self-property. Therefore, it might be more cost-effective to buy a new apartment for yourself now. What's more, the stamp duty exemption is in place, let’s take advantages of this period!

· High rental yields

You can also rent your property in order to reduce the mortgage stress. The rent rate for an one-bedroom apartment of $500,000 can even reach $2400 per month in Melbourne now. This means that you can pay your monthly mortgage repayment by the rent. After paying off the home loan, the high rent will be your monthly income. If you are looking for a reliable property manager to manage your rental property, Entre Shield Property will always be here to provide you with professional services, you don’t have to worry about anything. We will help you to find a suitable tenant and collect the rent properly.


Therefore, we strongly recommend you to purchase a new apartment within Melbourne City before 30 June 2022 as it is a low-risk investment with high return.


Here is a recommended project for those who are interested in the apartments within Melbourne City. Melbourne Quarter is conveniently located, which is just a stone throw from Southern Cross Station, one of the major transport hubs in Melbourne City. The national property developer, Lendlease, has put everything in one place for residents at Melbourne Quarter, with the recently completed East Tower featuring three whole floors of resort-style amenities. The residents will have exclusive access to an indoor swimming pool, theatrette, sauna and other leisure facilities which can fulfill residents’ enjoyment. (Another recommended project: Queens Place in Chinese version)


Regarding different demands, Entre Shield Property will suggest the most suitable property for you. If there are any enquiries regarding Australia properties, please don’t hesitate to contact us.

WhatsApp: +61 481 988 806

Email: info@esproperty.com.au

FB: ESPropertyAU

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