With WA property prices at an all-time low, together with the newly introduced stamp duty rebate, property buyers are getting excited.
The Western Australian government unveiled stamp duty rebates of up to $50,000 for off the plan property buyers to help stimulate the residential property and construction sectors.
Over the next two years, buyers who sign pre-construction contracts to purchase a new unit or apartment in a multi-tiered development can receive a 75% transfer duty rebate of up to $50,000.
There will be no cap on the purchase price, and multiple rebates will be available to the same applicant for additional purchases.
Under the changes, buyers getting an off the plan unit worth $500,000 will only be require to pay $3,254 in stamp duty, saving them $9,761.