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.
PARKSIDE RESIDENCES
UNDER CONSTRUCTION
Completion expected Stage 2 Q3 2024
Stage 1 Complete
TRANSITIONAL EXEMPTION APPLIES – Invest or live
Capitalise on up and coming Mt Wellington. With easy access to the Motorway and the City or South to Manukau, this location is hard to beat. Double glazing, fully tiled bathrooms (floor and wall), over height 2.7m stud & Bosch appliances including a washer/Dryer. Parkside Residences are right beside the recently upgraded Sir Wolf Fisher Park, so great for the pets, the kids or both. Many apartments in Stage 1 have amazing views over the park including one of the Penthouse apartments. Close to the shops, supermarket and restaurants of Lunn Ave, an approximate 12 minute walk to the recently upgraded Panmure train station, minutes to buses and close to Sylvia Park.
| 1 bed plus study | From $680,000 |
| 2 bed 2 bath – Stage 2 | From $808,000 |
| 2 bed 2 bath – Stage 1 | From $900,000 |
| 3 bed 2 bath | From $1,180,000 |
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