VIC Off-the-Plan Stamp Duty Savings for Another 12 Months
- kyle36034
- May 14
- 2 min read
Great news for property buyers and investors in Victoria!
On May 14, 2025, the Victorian Government announced the extension of its temporary off-the-plan stamp duty concession policy for another year. This move is expected to further stimulate housing activity, particularly in the medium and high-density sectors, and provides significant cost savings for buyers.
What Is the Off-the-Plan Duty Concession?
The off-the-plan stamp duty concession allows buyers to calculate stamp duty based on the land value only, rather than the completed property’s total value.
With this extension, buyers can deduct 100% of construction costs incurred after signing the contract from the dutiable value — leading to major savings.
For example, someone purchasing a $620,000 off-the-plan apartment could save approximately $28,000 in stamp duty costs (source).
Key Points of the Extension
Eligibility:
Applies to all buyers (first-home buyers, investors, companies, and trusts) purchasing new apartments, townhouses, or units in a strata subdivision with common property such as shared driveways or hallways (source).
No Price Cap:
The concession has no property price limit, making it accessible to buyers across all price brackets.
Effective Until:
Contracts must be signed before 31 October 2026 to qualify for the concession.
Exclusions:
House-and-land packages or free-standing homes not part of a strata scheme with common property are not eligible.
Why This Matters
This extension offers a significant incentive for buyers to secure an off-the-plan property now rather than waiting, especially with Melbourne’s strong population growth and ongoing housing demand.
At Core Elite Real Estate, we expect this policy will boost demand for off-the-plan projects and present a golden window for both owner-occupiers and investors to enter the market with substantial upfront savings.
If you are considering purchasing an off-the-plan property, now is the time to act. Our team is ready to assist you with exclusive project opportunities across Melbourne and provide a tailored investment plan to maximize your benefits.
References
Disclaimer
The content of this article is intended for general information purposes only. It does not constitute legal, financial, or professional advice. Core Elite Real Estate recommends that readers seek independent advice before making any property purchase decision. While efforts have been made to ensure the accuracy and currency of information, Core Elite Real Estate does not accept liability for any errors, omissions, or reliance placed on this information.
