Victorians pay millions of dollars in stamp duty each year. In fact, when purchasing a $500,000 property, Victorian buyers can hand over upwards of $20,000 in stamp duty fees. But all of that is set to change, with the news that stamp duty laws in Victoria are evolving. As of the July 1, 2017, the Victorian State Government will abolish stamp duty for first home buyers on some purchases, and reduce it for others. For first home buyers, properties purchased under $600,000 will be completely free of stamp duty, while those shopping between $600,001 and $750,000 will pay a reduced rate.
Melbourne is a city you can always count on to be endlessly evolving. While the CBD and inner-city gets most of the attention, there’s plenty else in Melbourne to discover. If you’re keen to venture out a bit further you’ll also find plenty of hidden gems, local favourites, great shopping destinations and plenty of grassy parklands, especially in Melbourne’s south-east. Hop in your car, or jump on a train and enjoy some of these south-east hot spots, all located within 10-20 kilometres of Melbourne’s CBD.
Apartment living is catching on right throughout Melbourne. For the first time ever apartment sales outside Melbourne’s CBD are outstripping those within it. That is the key message out of a recently released report by property consultants Urbis.
Over the past couple of years, Amity Property Group has forged a remarkable track record selling luxury apartments off-the-plan in China. Below, Cindy Zhou – Amity Property Group’s General Manager of International Sales – talks about the steps taken and the strategies put in place that have enabled the group to achieve such strong results. How has Amity approached the Chinese market? We really started exploring the Chinese market about two years ago. In that time we’ve made a priority of showcasing our projects at LPS, Asia’s leading luxury property show, which takes place every four months on a revolving basis in Beijing, Shanghai and Guangzhou.
In December, LK Property Group appointed the internationally-renowned contractor Multiplex to undertake construction of Capitol Grand, Melbourne’s first six-star residential and luxury retail destination. In the seven months since, a great deal of progress has been made on the landmark site located on the corner of Chapel St and Toorak Rd, South Yarra.
It is the one thing smart property investors are continually on the lookout for: opportunities to buy quality properties in blue chip suburbs. Their excellent location and beautiful streetscapes, coupled with access to great local amenities and infrastructure ensures their appeal will never fade. With its famous liveability, it is no surprise that Melbourne has its fair share of blue ribbon suburbs; however, few have the allure of South Yarra. Location and lifestyle Situated on the banks of the Yarra River, a mere 4km from Melbourne’s CBD, South Yarra is perfectly positioned, right in the heart of the action.
