Stamp Duty Savings*: A New Opportunity for Buyers at Prince & Parade by Mirvac

In a major policy update, the Victorian government has introduced significant stamp duty reductions* on off-the-plan apartments, offering buyers an exciting opportunity to secure substantial savings*. This change, effective from October 21, 2024, makes now an ideal time to consider a purchase at Prince & Parade, Mirvac’s premier Brunswick development. 

What the Changes Mean for You 

Under the new policy, stamp duty on eligible off-the-plan purchases will be calculated based on the land value alone, rather than the total property price. This results in dramatically lower upfront costs, especially for metropolitan buyers.

Expanded Eligibility for All Buyers 

The stamp duty concession, which was previously capped for first-home buyers, now extends to all purchasers. Whether you’re a downsizer from the local areas of Parkville, Carlton, or Brunswick, or a first-time buyer looking for a modern home in an exclusive community, you can take advantage of this offer for the next 12 months. 

Why Choose Prince & Parade by Mirvac? 

Prince & Parade offers beautifully designed one-, two-, three- and four-bedroom apartments in a vibrant location close to Melbourne’s CBD. With these new stamp duty concessions, owning a premium apartment in Parkville has never been more accessible. 

Act Now – This Offer is for a Limited Time Only 

These expanded concessions will only be available until October 21, 2025. Buyers are encouraged to act swiftly to secure their place in this sought-after development.

*Legislation has not yet been introduced to implement the temporary off-the-plan duty concession (Concession), however Government has stated that the Concession will be available for off-the-plan contracts for strata properties exchanged between 21 October 2024 and 20 October 2025 (regardless of when settlement occurs). The Government announcement confirms that the Concession is available to owner occupiers, investors and foreign purchasers (however the Concession will not apply to Foreign Purchaser Additional Duty). For more information visit: https://www.sro.vic.gov.au/temporary-plan-duty-concession