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75% stamp duty rebate for off-the-plan apartment buyers

The State Government has announced it will provide stamp duty rebates for off-the-plan homes.

The exemption will apply to buyers of new residential units or apartments within a multi-tiered development offering a 75 percent transfer duty rebate, worth up to $50,000.

There will be no cap on purchase price.

The Real Estate Institute of WA has welcomed the news and says it will assist in boosting the construction sector, while also meeting Government targets for more urban infill.

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