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.
ELEMENTUM
COMPLETION EXPECTED Q4 2023
Long Bay on Aucklands North Shore is an exciting master planned community, with immediate and easily accessible natural attractions such as Long Bay Regional Park, Long Bay Beach, Vaughans Stream and many walking tracks. Elementum is collection 115 apartments and 15 Terraced homes centered around an expansive architecturally designed private garden and all within a minutes walk to the Long Bay Village with an array of shopping, services and entertainment. The developer is Templeton Group a New Zealand owned residential developer with $1billion worth of mainly Auckland residential property on their books.
| 1 bed apartments | From $645,000 |
| 2 bed apartments | From $965,000 |
| 4 bed Terraces | From $1,395,000 |
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