The government has confirmed that new builds and off-plan properties will be exempt from the upcoming tax changes for residential property investors. Therefore mortgage interest will likely continue to be deductible as a tax expense, and these properties will also be exempt from the extension of the bright-line test.
New build apartments and terrace homes also often have lower LVR requirements and potentially lower interest rates.
To read a full analysis of all these benefits CLICK HERE.
THE RESIDENCE – CENTRAL PARK
Under construction – Completion expected Q3 2023
OIA EXEMPTION APPLIES – Invest only
Located in Ellerslie, this central location is an easy commute to the CBD or South. 5 min walk to the Ellerslie train station, and 8 min to Ellerslie town centre. Safari Group are established developers, The Residence at Central Park are good sized apartments. Dual Key apartments ( two apartments on one title ) offer a great option for investors or home and income, with appraised income of $1010-$1070 per week. A roof top garden, gym, concierge and most apartments have a 2.7m ceiling height, and all include curtains, heat pumps, LED lighting, tiled bathrooms and engineered stone kitchen benches.
| Studio | From $399,000 |
| 1 bed | From $599,000 |
| 2 bed | From $765,000 |
| 2 bed incl carpark | From $865,000 |
| Dual Key | From $930,000 |
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PARK AVENUE CENTRAL PARK
COMPLETION EXPECTED Q3 2023
OIA EXEMPTION APPLIES (ON SOME) – Invest only
Conrad Properties, NZ’s largest developer has introduced an exceptional Terrace Home community only 4 min stroll to Ellerslie Village and close to public transport. All terraces have an enclosed courtyard, concrete intertenancy walls, 2.7m ceiling height to living areas, tiled bathrooms, options of heat pumps & gas cooking and for those that don’t have a car park, pay per use shared electric cars. Sustainability with distinctive elegance & sophistication are the hallmarks of this development. Pets are allowed and Park Avenue residence will have a 10 year Master Build guarantee. Due to popularity, I would suggest early enquiry. Only a few homes now available.
| 2 bed | SOLD |
| 3 room flexi | SOLD |
| 3 bed | Terrace Home from $1,785,000 |
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