Buyers pay cut-price stamp duty at Perth's Cirque Duet apartments in Mount Pleasant
In a bid to improve housing supply and affordability, the Western Australian Government further built on the states rebates for off the plan apartments back in May this year.
Conceived as part of the state’s largest budget, the new $50,000 rebate is in place for purchasers of off the plan apartments until the end of October 2023.
There is a sliding scale for concessions for a pre-construction contract entered into between 1 June 2022 and 24 October 2023.
Buyers will see 100 per cent of the duty paid by the WA Government if the property is valued at $500,000 or less, capped at a maximum of $50,000
There will be between 100 per cent and 50 per cent of the duty paid if the property is valued at more than $500,000 but less than $600,000.
Then from $600,000 plus, 50 per cent of the duty is paid, capped at a maximum of $50,000.
Western Australia Premier Mark McGowan said the budget measure was focused on lifting housing supply while addressing unaffordability.
“The measures would create a pipeline of more affordable homes into the future, while also providing greater assistance to those seeking to purchase homes at the affordable end of the market, and aim to smooth the construction pipeline beyond the current boom in activity,” he said.
Stirling Capital's Cirque Duet has apartments that will see buyers pay $0 stamp duty. Prices start from $495,000 for the one-bedroom stock in the resort-inspired Mount Pleasant development.
Conceived as twin towers, Cirque Duet residences are connected above street level through an expansive podium of more than 3,000 sqm, housing the project's extensive amenity offering.
From a heated swimming pool to a children’s playground, Cirque Duet offers up some of the best Perth has to offer.
The podium also features a spa and sauna, a gym, private dining rooms, cabanas, a cocktail bar, and barbecue facilities.
The amenity continues inside as well, with residents treated to a luxury cinema to watch all the latest blockbusters from the comfort of their own home, and a library.
Along the ground floor, the hotel-inspired lobbies also feature a concierge desk and access to a business centre and meeting room.