The State Government has announced an extension to its Stamp Duty Concession to major apartments projects at Bowden and Gilberton.
The initial State Budget announcement saw off-the-plan apartment sales up to $500,000 in the city centre exempted from Stamp Duty for a two-year period. It originally applied to apartments within the boundary established by the city’s Terraces.
The announcement comes as the existing reforms begin to deliver results, with increased interest in apartment living and talk of more projects being brought forward as a consequence of the Stamp Duty reform.
This announcement gives due recognition to the importance of these two projects and supports the Treasurer’s view that this reform package is more than just delivering affordable apartments, it is also about jobs for the construction sector during this difficult economic period.
Bowden Urban Village has just seen the first release of townhouses and apartments; 45 Park in Gilberton, will comprise 221 apartments.