Pay no stamp duty for Midtown MacPark one-bedroom apartments
Eligible buyers can take advantage of the NSW Government’s updated First Home Buyer Assistance Scheme to save up to $30,735 on a new apartment at Frasers Property Australia’s Midtown MacPark community and move in well within the year.
Fifteen one-bedroom apartments within the Soul and MAC Residences buildings meet the criteria for the stamp duty exemption, with both buildings due for completion in early 2024.
The NSW Government announced last month that home purchases of up to $800,000 would incur no stamp duty for eligible first home buyers. On an $800,000 apartment that amounts to a saving of $30,735.
Eligible buyers are those who have never owned or co-owned residential property in Australia. At least one purchaser on the title must be an Australian citizen.
Nine one-bedroom, one-car park apartments within the Soul Residences meet the criteria for the stamp duty savings.
Soul Residences, designed by award-winning architects Candalepas Associates and overlooking the central Village Green park, consists of 103 apartments over 20 levels.
The available Soul one-bedroom apartments range in price from $760,000 to $800,000, representing stamp duty savings of between $28,935 and $30,735 for eligible buyers.
There are six one-bedroom, no car park apartments eligible for stamp duty exemption within the 24-storey MAC Residences.
The 269-apartment building designed by acclaimed architects Bates Smart frames the masterplanned community’s entrance and will have a Montessori childcare centre for a minimum of 75 children at its base.
The eligible MAC Residences apartments range in price from $720,000, to $735,000. First home buyers eligible for the stamp duty exemption would save between $27,135 and $27,810.
Jaqueline Oliveira and Osvaldo Dos Santos took advantage of an earlier NSW Government stamp duty savings scheme to secure an apartment within the MAC building.
The chef and music teacher who are expecting their first baby next month were accustomed to apartment living in their native Brazil but didn’t want to sacrifice proximity to the city and access to green open space to secure their home.
Midtown MacPark, one of the best-located communities in Sydney, offered the best of all worlds.
“The location is great because it’s so close to the shopping mall and the railway station, so we won’t have to use the car all the time, and I’m looking forward to walking around the parks with my baby. And we have a childcare centre just under our building,” Jaqueline said.
Osvaldo, whose father is a real estate agent in Brazil, said he and Jaqueline did extensive research before concluding Midtown MacPark met all their criteria.
“We are used to apartment living but we need space, especially with the baby coming, so the amount of green space was crucial,” Osvaldo said.
Within the 8.2ha Midtown MacPark site, 30 per cent is devoted to open space, including the Village Green park, revitalised Shrimpton’s Creek ecological corridor, pocket parks, playgrounds, bike paths and walking trails.
The community is notable for its large number of mature trees, which were preserved during the building process, making it a green oasis despite being within walking distance of Macquarie Park, Sydney’s third largest CBD with its Macquarie Centre shopping mall, new metro railway station and acclaimed Macquarie University.
Within the community a pay-as-you-go gym and pool, social enterprise café, shared bush tucker community garden, car share scheme, multi-use community centre and retail and beauty shops will add to the sense of neighbourhood.
A proposed state primary school within Midtown MacPark would round out the unparalleled amenity available to residents.
Scott Clohessy, Development Director, Midtown MacPark said the significant stamp duty savings could be just what first home buyers need to help secure their first home in one of Sydney’s most dynamic new neighbourhoods.
“We know that many first home buyers have to compromise on city-proximity and amenity to secure their place in the housing market. At Midtown MacPark there’s no compromise necessary and these savings could make the difference in buyers being able to find their place in a community they might otherwise have considered out of their reach. Plus they could be moving in by early 2024,” he said.
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