Stamp duty rebates of up to $50,000 will be offered to West Australian property buyers purchasing new off-the-plan apartments in a bid to revive the state's struggling property sector.
It follows a plea from the real estate lobby to help boost the industryThe 75 per cent stamp duty discount would be available to people who signed a pre-construction contract to purchase a new apartment within the next two years.There is no purchase price cap on the policy, which has been put in place for two years, and people buying more than one unit would be eligible for multiple rebates.
What are governments going to do when these apartments need fixing and the builder/developer conveniently goes bust. How about making developers pay a bond to the government say $20k per apartment. If no problems after 10yrs they can have it back.
Buying a dud? Having to put the bill for structural damage ?
Id rather scrape my balls down a 45 deg outback highway covered in glass than buy an apartment of the plan.
Great, more crap apartments. How about giving me a tax reduction so I can continue running a small business and keep staff paid.
More overseas ratepayers lining their pockets, who don’t care what standard the building is completed under. Buyer beware! This industry is in tatters thanks to the state govs for removing the protection we consumers once had against shonky builders and property developers.
Don't touch them even with a barge pole. Will collapse on the heads & leave owners in utter ruins. Cancerous political donations at work. LiberalAus LiberalNSW australianlabor Greens
At this rate, someday the fed & state governments will exist purely to funnel tax revenue into housing construction subsidies, 90% of jobs will be real estate agents, property managers and construction workers, and still most young people will have no hope of ever owning a home.
amazing what the state gov would do to keep d fan on units development They r in bed with developers cutting their own revenue
Hmmmm, to off set loss of investment given recent stories on this practice?
Just check out the massive cracks and combustible cladding first