First home buyers who have their sights set on a brand new inner-city apartment could save more than $40,000 if they sign contracts in the next three months on buildings yet to be built!
In his recent Budget speech, Treasurer Tom Koutsantonis revealed a number of property developments had not sold enough apartments off the plan to start construction.
Enter the Pre-Construction Grant – Purchasers who enter into an eligible off-the-plan apartment contract between 22 June 2017 and 30 September 2017 will now be eligible to receive a $10 000 grant.
On top of this new grant, the following existing incentives continue to remain in place;
This means first home owner’s buying a new apartment could now save as much as $40,500!
People who have previously owned a home will be eligible to receive the stamp duty concession and new pre-construction grant, saving up to $25,000.
The initiative is designed to limit urban sprawl, support jobs and economic growth through construction, and increase city vibrancy – with the majority of developments centred in the CBD and fringe suburbs.
Treasurer Tom Koutsantonis said the $10,000 grant, combined with the Adelaide City Council’s scheme to give owner occupiers a ‘five-year holiday from council rates’ was a great incentive to buy off the plan!
In Adelaide there are currently some excellent opportunities to buy and invest in new apartments. Based on our research we feel very strongly about the city-fringe suburb of Bowden.
Whether you want to explore the unique ‘Bowden lifestyle’ or make an investment for your future this area is certainly worth a look.
In fact, we think Bowden might just become Adelaide’s next property hotspot.
Bowden is fast-becoming Adelaide’s most sought after lifestyle precinct with its mix of cutting-edge design and vibrant community spaces.
354 Bowden has a variety of options with Apartments, Sky Lofts, Terrace Housing and Commercial areas suitable for home owners and astute investors.
Overlooking the town square, 354 Bowden has ‘true park facing opportunities’. Residents also get to enjoy the convenience of specialty markets, cafés, restaurants and a new IGA grocery store literally at their door step.
>> Buying an apartment in Bowden 354 is easy too – just pay a 10% deposit today, with the rest due at settlement in ~24 months’ time.
This gives you plenty of time to get your finances sorted.
Other features include;
354 Bowden – On the Park has a selection of 1, 2 and 3 bedroom Apartments, Sky Lofts and Park Terraces.
Below is a typical floor plan of a 1 bedroom apartment – prices start from $345,000.
Below is a typical floor plan of a 2 bedroom apartment – prices start from $465,000.
Below is a floor plan for one of the 3 bedroom apartments – prices start from $720,000.
>> For more details and to further explore this project please contact Sam on 0411 431 391
Sam, Matt & Andy
Adelaide Finance Brokers + a lot more…
PS. Why invest in a new Apartment? As a general rule, we recommend investors steer clear of inner city apartments due to potential oversupply issues and overall poor investment performance. What makes 354 Bowden different however, is that it’s not located in the CBD. Unlike the city where there will always be a steady stream of new apartment projects coming on the market, Bowden contains a finite number of developments as part of its overall masterplan – this means once all the projects are complete there will be no further development. As an investment, Bowden ticks many of the boxes; location, community, amenities, high owner occupier mix, and strong rental demand – most importantly the numbers stack up!