With the cost of living rising and housing affordability still front of mind for many West Australians, there has been a growing interest in off the plan properties and not without good reason. Whether you’re a first home buyer or a seasoned investor, getting in early can offer great benefits like lower prices, potential capital growth, and stamp duty concessions, especially when it comes to considering opportunities in real estate Perth.
Buying off the plan means signing a contract to purchase a property (typically an apartment) based on building plans and designs—before construction is complete.
This often involves paying a deposit (commonly 10%) and settling the remainder once the property is finished.
Purchasing off the plan offers both immediate savings and potential long-term financial upside, particularly when considering the current government incentives in place.
The WA Government has recently announced that they will be extending the off-the-plan stamp duty concession through to 30 June 2026, as well as the eligibility thresholds.
Eligible buyers can now receive:
- 100% stamp duty concession (up to $50,000) on properties valued up to $750,000
- between 100% and 50% stamp duty concession for properties valued more than $750,000 but less than $850,000
- 50% stamp duty concession (up to $50,000) on properties valued $850,000 or more
To qualify, the apartment must be:
- Purchased off-the-plan, preconstruction.
For further details and information on stamp duty concessions for properties under construction follow this link:
Aside from the extensive stamp duty savings, there are further perks to note:
- Extended settlement period: This provides you with time to save towards furniture, moving costs, settlement costs and any other unexpected expenses for the purchase, while the property is being built.
- Potential Capital Gains: You lock in today’s market value, which may offer potential capital growth by the time construction is completed.
- Low maintenance: Brand new apartments come with minimal upkeep and are developed to the latest energy and compliance standards.
- Modern features: Buyers benefit from updated layouts, finishes, as well as the building amenities that older properties usually lack.
- Depreciation benefits: Off-the-plan property purchases may come with potential depreciation benefits. Depreciation generally refers to the decline in value of a building and its fittings over time, which can be relevant for tax reporting purposes, particularly for investment properties.
When considering off the plan / new properties for sale in Perth WA, location and timing make a significant difference. In our experience with working on projects like Riva Como, a new development 500mtrs from Canning bridge train station with sweeping views of the Swan and Canning rivers in Como, we know how buying early in well-positioned areas help buyers lock in the current market value, while the area continues to grow in appeal.
That said, it is essential to do your due diligence and surround yourself with the right legal and financial advisers to help protect your interests. Since the property isn’t built yet, market conditions or your financial situation could change. With the right research and guidance, buying off the plan can be an exciting way to secure a new home or investment.
An off the plan property, be it for owner occupation or purchase of an investment property in Perth, can offer flexibility, value, and opportunity—but they’re not for everyone. Make sure you’re entering the deal with a clear understanding of your rights, risks, and responsibilities.
Before signing anything, ask questions, get expert advice, and take your time. It’s your future home or investment—make sure it works for you.