|Off The Plan Apartments in Sydney, Off The Plan Sydney|
|Off The Plan Apartments Melbourne, Off The Plan Melbourne|
|Newstead Off Plan Apartments - Brisbane|
|Off The Plan Apartments Brisbane, Off The Plan Brisbane|
Melbourne offers significant stamp duty savings when buying very early in the off plan process. Whilst stamp duty is not payable until your property settles, the stamp duty amount is actually calculated at the time of exchange and the stamp duty is based on the value of the property at the time that it exchanges.
So if a property is yet to begin construction, the value of the property at that time is solely its land value.
Typically, on an apartment of say $400,000 we would expect that at an early pre-construction stage the stamp duty payable at settlement would often be as low as between $1,200 & $2,400. If purchased once complete the stamp duty would be $19,660.
So the savings are very significant, over $17,000 on this example!