The top eight apartments in the City of Melbourne offering full or 50% stamp duty savings
Prospective buyers have never had a better opportunity to buy a property in the City of Melbourne.
The State Government is offering stamp duty incentives for new properties purchased within the City of Melbourne area. A 50% concession on stamp duty is available for new properties worth up to $1 million, for contracts entered into before June 30 2022. If the new property has been on the market for more than 12 months, then stamp duty is waived completely.
It includes all of the locations in the City of Melbourne local government area, which includes the surrounding city areas of Docklands, Southbank, and Kensington.
Experts are saying that now is the right time to buy in Melbourne, while the stamp duty savings are in place, and before international migration and investment really fires back up, which in turn drives prices higher.
Both concessions are applicable for owner-occupiers and investors, and can be used in conjunction with other offers like off the plan deals and first home buyer grants.
We've wrapped up the best developments currently on the market in the City of Melbourne LGA which either have only 50% stamp duty payable, or none at all.
Docklands
Project name: East Tower, Melbourne Quarter
Developer: Lendlease
Priced from: $455,000
Stamp duty: Pay $0 stamp duty on new apartments under $1 million*
The national property developer, Lendlease, has put everything in one place for residents at Melbourne Quarter, with the recently completed East Tower featuring three whole floors of resort-style amenities.
Dubbed Club MQ, residents will have exclusive access to, a 25-metre indoor swimming pool, spa, sauna, steam room, yoga room, theatrette, and a library.
Melbourne Quarter will be named Melbourne's greenest city precinct, with around 50 per cent of the 2.5 hectare precinct dedicated to outdoor open space.
Melbourne Quarter's prime Flinders Street location puts residents in the heart of the action, and a stones throw from Southern Cross Station, one of the major transport hubs in Melbourne city.
Project name: Voyager
Developer: Mirvac
Priced from: $475,000
Stamp duty: Save 50% stamp duty on new apartments under $1 million*
Voyager tower is the eighth completed apartment tower in Mirvac’s Yarra’s Edge masterplan, designed to include a variety of indoor and outdoor spaces.
The $300 million development on the Docklands waterfront rises 130 metres and is home to a sweeping range of facilities.
Designed by Mirvac’s in-house design team, its resident-only amenities and contemporary apartments have boosted investor interest in the development, from an art gallery in the lobby to resident skydeck.
The first half of 2021 saw 20 per cent more sales in the recently completed building, compared to the same time last year, with owner-occupiers accounting for 78 percent of purchasers over the period.
Mirvac General Manager for Residential Victoria, Elysa Anderson, said buyers were drawn to the luxury apartments, exceptional amenity and beautiful waterfront living Yarra’s Edge has to offer.
Southbank
Project name: Melbourne Square
Developer: OSK Property
Priced from: $711,400
Stamp duty: Pay $0 stamp duty on new apartments under $1 million*
Melbourne Square is arguably Melbourne's most convenient address. The two completed towers, designed by Cox Architecture with interiors by Carr Interior Design, are located in the heart Southbank.
Part of the $2.8 billion development by OSK Property is Melbourne's only double-storey Woolworths supermarket. Located adjacent from Melbourne Square a mix of eateries including Theo's Fish Bar, Sicilian pizzeria Pizza Pantelleria, specialist roasters and cafe Espresso Bar, Vietnamese restaurant Golden Bunny by Tho Tho, Japanese cuisine experts Waku Waku and a new BWS bottle shop.
One of the most impressive features is the city's largest resort-style pool, at 50 metres long, which soars 54-levels into the sky. Residents will also have access to private dining facilities, bookable games rooms, a theatre, music room, yoga studio, gym, and even a golf simulator.
Based on the purchase of an $850,000 apartment, buyers can save over $120,000 with the combination of government concessions and a number of developer incentives, including Coco Republic furniture packages and styling consultations, Samsung white goods and a Lovelight blinds package.
Project name: Vivére on Dorcas
Developer: BEKL
Priced from: $490,000
Stamp duty: Save 50% stamp duty on new apartments under $1 million*
Vivére on Dorcas boasts a new collection of 36 upscale residences delivered by BEKL, Amazon Property Group’s Australian operation.
The 20-storey project soars above the Voco Hotel and offers one, two and three-bedroom apartments, premium hotel services, and a range of recreational amenities.
These include a gym, bike hire, car share, room service, maid service, restaurant, bar, car charging station, conference rooms, 24/7 concierge services, and 2,293 sqm of coworking space.
Apartment interiors combine artful design with luxury finishes, including oversized floor-to-ceiling windows, V-Zug appliances, statement bathrooms and considered floorplans.
Project name: Australia 108
Developer: World Class Global
Priced from: $480,000
Stamp duty: Pay $0 stamp duty on new apartments under $1 million*
Australia 108 is one of the most impressive projects to grace the Melbourne skyline. The tallest residential tower in the southern hemisphere, the completed Australia 108 has some of the highest amenities ever offered to buyers.
The 70th floor Star Club, located in the iconic, protruding gold starburst around 300 metres from the street, is where residents will have access to 2,800 sqm of amenity, including a heated infinity pool, a gym with yoga studio, sauna, spa and steam room, private movie theatre, and an outdoor barbecue entertaining space.
There's further amenity on level 11, with the Sky Rise Club hosting a second pool, gym, a virtual golf simulator, a private movie theatre, and a private dining room.
“World Class Global’s commitment to beautiful design and glorious amenity will make Australia 108 one of Australia’s most envied addresses”, World Class Global CEO David Ng said.
Australia 108 has been designed by one of Australia's most renowned architecture practices, Fender Katsalidis, with interiors by the equally well-known Carr Design.
West Melbourne
Project name: Parkhill Apartments
Developer: Central Equity
Priced from: $489,000
Stamp duty: Pay $0 stamp duty on new apartments under $1 million*
The well-connected Parkhill Apartments offers stylish residences on the fringe of the Melbourne CBD, located only metres from the tranquil Flagstaff Gardens and other amenities.
Delivered by Central Equity, the project benefits from bright apartments with up to 2.7-metre-high ceilings, spacious balconies and seven-day concierge service.
One and two-bedroom apartments remain in the tower, which offers residents a rooftop gym, rooftop garden and seven-day concierge.
Melbourne
Project name: Queens Place
Developer: 3L Alliance
Priced from: $439,600
Stamp duty: Pay $0 stamp duty on new apartments under $1 million*
The $1 billion twin-tower development, Queens Place, rises 70 stories as one of the Melbourne CBD's largest residential developments.
Developed by 3L Alliance and designed by Fender Katsalidis and Hecker Guthrie, Queens Place is another Melbourne project focused around putting everything in one place.
The Queen Street development has a five-level podium with a range of offerings such as a medical clinic, childcare facilities and professional suites.
Queens Place goes further than hotel-style amenity. While still offering a swimming pool and spa, the project also gives residents exclusive access to private dining rooms with a caterer’s kitchen, a games room, private cinema, library, poker room, karaoke suite, and even a cigar bar.
Kensington
Project name: 393 Macaulay Road
Developer: Assemble
Priced from: $580,000
Stamp duty: Save 50% stamp duty on new apartments under $1 million*
The Kensington apartment development 393 Macauley Road, created by the affordability conscious developer Assemble, offers one of the largest one-bedroom square metre sizes on the market.
There are 73 one, two and three-bedroom apartments over eight levels, with the one-bedroom apartments starting from 65 sqm of internal space.
Under their Assemble Futures model, the development bridges the gap between renting and owning your home, allowing residents to lease their apartment while they save to buy.
Designed by Fieldwork, the project will restore and retain the façade of the Harry A. Norris designed heritage building, picking up cues from the art deco design in interior communal spaces.
*Conditions apply - for more information click here.