City Living Incentive Scheme Now Open
The City of Adelaide has officially launched its new incentive scheme website to help people find out if they can buy and live in the City of Adelaide rate free.
Launched earlier this year, the scheme means that owner-occupiers who purchase new ‘off-the-plan’ residential dwellings or apartments converted from C and D grade office buildings can now apply to Council for a rates exemption period of five years.
They will generally be eligible if the purchase contract is signed between 1 July 2017 and 30 June 2019 and they occupy the property as their primary place of residence within six months of contract settlement.
Prospective purchasers can head to the City of Adelaide website to find out if they are eligible for the rebate, learn about all the terms and conditions, and how they can lodge their application.
City of Adelaide Lord Mayor Martin Haese said the rebate can save a prospective apartment buyer thousands of dollars over the five-year period.
“Combined with a range of State Government incentives, it means people looking to buy and live in new apartments within the City of Adelaide council area could save tens of thousands of dollars in concessions,” said Martin.
“We have already been inundated with queries about the scheme since it was first announced, and I strongly encourage people to go and register at our website to receive further information about eligibility requirements and learn how to apply.”
The Lord Mayor said the initiative is part of a comprehensive strategy that supports Council’s aim of achieving a residential growth target of 50,000 residents by 2040.
“Both Council and the State Government are committed to stimulating residential population growth and improving housing affordability in the City of Adelaide.
“We know that city living is convenient and offers great lifestyle, social, economic and environmental benefits, and we hope that these measures will encourage more people to make the move and take advantage of all that the city has to offer.
“In addition to savings on stamp duty, the $10,000 pre-construction grant from the State Government and the first home owners grant, there has never been a better time to live in the City of Adelaide.”
To find out more, visit: cityofadelaide.com.au/free-rates
*The $10,000 pre-construction grant from the State Government is available until 30 September this year.