Poly Australia to re-release apartments under $800,000 for first-home-buyers
Announcement posted by Poly Australia 29 Jun 2017
Sydney, Thursday 29 June 2017 – Last month, in response to NSW government initiatives to assist first-home-buyers, International developer Poly Australia announced it would hold back all remaining apartments at their premier development, Poly Horizon in Epping, saving them for first-home-buyers.
Now, Poly Australia is preparing to re-release these apartments back to the market, as promised, at the exact same price they were taken off the market.
“This will allow first-home-buyers to secure an apartment within the NSW Governments set parameters, taking advantage of discounted stamp duty and a $10,000 first-home-owners grant,” said Poly Australia Sales and Marketing Director Jay Carter.
Since announcing the initiative last month, Poly Australia has experienced a number of enquiries from foreign buyers looking to avoid the hikes in stamp duty, however has committed to holding any apartments under the $800,000 threshold for first-home-buyers.
“As expected, we have seen a spike in enquiry from foreign purchasers who want to secure property at the lower tax rate, however anything under $800,000 is being held, as promised, so that first-home-buyers can have the first opportunity once the stamp duty discounts take effect.”
Mr Carter added that it was difficult to turn away buyers who were looking to exchange before June 30, however was happy to assist in finding a solution for them.
“Several of the buyers we initially turned away for the lower priced apartments actually ended up purchasing some of the units that were just over the $800,000 price point,” he said.
Poly Australia will be releasing 23 apartments priced below $800,000 at Poly Horizon in Epping on July 1st. First-home-buyers will be given the first opportunity to purchase these apartments to take advantage of discounted stamp duty and a $10,000 first-home-buyers grant.
For more information, contact Poly Agency on 1300 889 958.
For media enquiries, contact Jamie Pericleous on 0421 173 361 or Jamie.pericleous@polyglobal.com
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About Poly (Australia) Real Estate Development Pty Ltd
Poly (Australia) Real Estate Development [Poly] is the Australian division of the listed international property development company, Poly Real Estate Group Limited.
Founded in 1992, Poly Real Estate Group Limited listed on the Shanghai Stock Exchange in 2006 and operates in Australia, UK, the US and China. The company has a total asset value of AU$120 billion.
Through its Australian subsidiary, Poly (Australia) Real Estate Development, Poly Real Estate Limited entered the Australian marketplace in January 2015 acquiring its first site in Melbourne, closely followed by a site in Epping in Sydney’s northern suburbs.
Poly (Australia) Real Estate Development is the Australian division of the listed international property development company, Poly Real Estate Group Limited. Founded in 1992, Poly Real Estate Group Limited listed on the Shanghai Stock Exchange in 2006 and operates in Australia, UK, the US and China.
In New South Wales, Poly is currently developing a landmark $344 million mixed-use project, Poly Horizon in Sydney's northern suburb of Epping which comprises 501 apartments. The company has also acquired sites in Werrington and Lindfield.
Poly aims to build a development pipeline of between 2,000 to 3,000 apartments in New South Wales. Poly intends to explore additional opportunities in other areas as well, including commercial buildings and retirement villages.
About Poly Real Estate Group Ltd
Poly Real Estate Limited is the Shanghai-listed commercial property arm of the state-owned China Poly Group Corporation.
Poly Real Estate is ranked 332 in the Forbes Global 2000 list in 2015. The company has assets valued at $125billion.
About China Poly Group Corporation Pty Ltd
China Poly Group Corporation operates as an investment company, The Company invests in trading, real estate development, culture and the arts, mineral resources, and other businesses.