Most Liveable City 2017 goes to Melbourne

2 months ago 0 0 363

Melbourne is the only country to win World’s Most Liveable City for 7 consecutive years. The Australian city of Melbourne, Victoria has been declared the world’s most liveable city again – for the 7th consecutive time. This is the first time in the survey’s 15-year history that a city has held top spot in The Economist Intelligence Unit’s Global Liveability Index for seven consecutive years. Vancouver, which shared the top-ranked spot with Melbourne from 2002 to 2004, held the title for 6 years. The Economist’s report scores each city out of 100 for stability, healthcare, culture and environment, education and infrastructure. It also looks at factors such as crime, how good the food is and even how bearable the temperature is in each of the 140 cities surveyed. Housing affordability is not considered.  Melbourne’s overall rating is 97.5 out of 100. Little wonder that the population of the city has

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Last Chance: Save ~A$20K Before Stamp Duty Increase On Melbourne Property

4 months ago 0 0 141

  Stamp duty will be increasing in Melbourne again. This increase is caused by the removal of the off-plan stamp duty concession on Melbourne property, which will affect all buyers. THIS WEEK COULD PROVE THE LAST CHANCE FOR YOU TO SAVE ~$A20K in stamp duty on Melbourne property. WANT TO KNOW MORE ABOUT THE STAMP DUTY INCREASE? WATCH THIS VIDEO: This video follows articles that we had written and published on our website previously regarding this change from as far back as 2 months ago. To read our article on the new stamp duty increase, please click HERE. To read about Vacant Residential Property Tax (VRPT), please click HERE. These articles and video are our way of sharing knowledge with our clients and friends. — This is another Knowledge Series by CSI Properties (Cornerstone International). CSI Properties (Cornerstone International) proudly promotes international investment property with high yields at low risk. Our portfolio

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Melbourne: Vacancy Tax to Hit Foreign Property Buyers

5 months ago 0 0 748

Government measures for affordable housing at expense of foreign investors: (i) Vacant Residential Property Tax (VRPT) (ii) New residential developments restricted to only 50% foreign buyers Last month we published an article announcing the latest raft of changes by the government to scrap off-the-plan stamp duty concessions in order to waive stamp duties for first-time buyers of houses worth up to $600,000 in Melbourne. (Click HERE to access the article). More restrictions are in store for foreign investors. The Victoria government has also now effected a vacancy tax (Vacant Residential Property Tax or VRPT) which will will cost foreign buyers who don’t have a tenant in their property (or live in it themselves) for more than 6 months in a year, an annual penalty of 1% of the property’s capital-improved value. This means investors with a home worth $500,000 will pay $5,000 in tax if they don’t rent the place

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Why Investors Must Buy Melbourne Property NOW before 1 July 2017

6 months ago 0 1 1525

From 1 July 2017, purchasers of off-the-plan (not yet built) commercial or residential investment properties will be liable to stamp duty on the purchase price or market value of the property (whichever greater) Investors will possibly pay approximately $15K – $20K* more than what they are currently paying Off-the-plan concession only for purchasers who make the property their principal dwelling  Investors should get into the Melbourne property market NOW and exchange by 30 June 2017 to avoid hefty stamp duty charges, which could cost some $15K to $20K* more than current rates. From 1 July 2017, investors of Melbourne property are no longer eligible for stamp duty concessions, resulting in payment of tens of thousands of dollars more. Note: Victoria is the only state in Australia that has stamp duty concessions. The increase in stamp duty charges are due to the Victoria government’s changes to the First Home Owner Grant

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Australia’s Housing Market To Remain Bubbling

7 months ago 0 1 1543

Very recently, the Victorian government announced the abolishment of the controversial stamp duty for first-time homebuyers. This ‘lifeline’ to young people struggling to get on the property ladder takes effect from July 2017 and is applicable for any homebuyer in Victoria whose property costs less than AUD$600K. In a market where experts and market watchers are spouting concern over housing undersupply and skyrocketing house prices, this could well be ‘the road to hell being paved by good intentions’. Why? Because simple economics tells us that cheaper property prices (in the form of the abolished stamp duty in this case) will stimulate demand. And increased demand in an overheated market will push prices higher in that price range. Even Federal Treasurer Scott Morrison has shared his reservations, which you can read here. Compounding this is the low interest rates (the central bank slashed rates twice last year) which  contributed to the boom in

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Construction Update | Longhouse, Melbourne

9 months ago 0 0 567

On behalf of the developer, we are pleased to present to our clients, the latest updates from the construction site of Longhouse in the beautiful suburb of Hawthorn, Melbourne. This update is as at Q4 of 2016.    ~6km from Melbourne CBD ~Prestigious neighbourhood ~5 minutes to Swinburne University ~2 minutes walk to Glenferrie Station & tram station ~A jewel of an investment in any portfolio Prestigious Hawthorn A contemporary low-density designer apartment with 61 tastefully appointed units, Longhouse offers a rare opportunity for those aspiring to live in the historic and exclusive neighbourhood of Hawthorn. A desirable inner east location of magnificent mansions an designer apartments, Hawthorn is nestled between the inner suburbs of Richmond, Camberwell and Kew, a prime location favoured by locals and astute investors. Inspired by the surrounding greenery, Longhouse is artistically designed with framed cantilever structures of different colours and vertical gardens that creep from

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Construction Update | MILQ Apartments, North Melbourne

10 months ago 0 0 411

Cornerstone International Properties and Prince Developments are pleased to present to you the latest updates from the construction site of MILQ Apartments in North Melbourne. It looks like things are going as planned for the development and the structure has been fully erected by the end of this year. If you scan through the report above, you will see that there is positive outlook for Melbourne. Exciting news indeed! Lastly, we would like to wish all our clients a very Merry Christmas, Happy Holidays and a blessed New Year for the year to come. All the very best!

Construction Update | Lantern, Collingwood, Sept 2016

1 year ago 1 0 494

Cornerstone International Properties is pleased to bring you the latest construction update for the lovely Lantern Apartments in Collingwood, Melbourne. A work of art, Lantern has a distinguishable lantern-like facade, hence its name. Only 3.2km from the CBD, Lantern lies in a historic neighbourhood of Collingwood, only 2.1km to the University of Melbourne. Lantern Construction Update Progress is going ahead as planned and now, Orange Building Solutions is in full possession of the site. The old building has been demolished bulk excavation is now underway. The full retention system and basement is expected to be completed by Christmas. Following which, on return from Christmas, work on the structure will commence. Settlement is anticipated for late 2017 and we will continue to keep you posted. About Collingwood Collingwood is one of the hottest property spots for young professionals. Hip, happening and increasingly gentrified, it is home to some of Melbourne’s best food and retail outlets, art,

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Construction Update | Lantern Melbourne

1 year ago 0 0 483

Cornerstone International Properties is pleased to bring you the latest construction update for the lovely Lantern Apartments in Collingwood, Melbourne. A work of art, Lantern has a distinguishable lantern-like facade, hence its name. Only 3.2km from the CBD, Lantern lies in a historic neighbourhood of Collingwood, only 2.1km to the University of Melbourne. Lantern Melbourne Construction Update Construction commenced on 14 July 2016 and the site has been cleared. Key works that are about to begin include: site set up basement works bulk excavation About Collingwood Collingwood is one of the hottest property spots for young professionals. Hip, happening and increasingly gentrified, it is home to some of Melbourne’s best food and retail outlets, art, culture and fashion. This former industrial hub is now a magnet for creative people – artists, musicians, designers and their ilk. Nestled between Ftizroy Garden’s miniature village (South), Yarra Boulevard’s cyclist and kayaker haven (East) and Carlton Gardens’ historical, manicured

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Construction Update | RIMA, Brunswick East, Melbourne

1 year ago 0 0 1055

We are pleased to share that the developer of RIMA apartments in Brunswick East, Melbourne has announced the appointment of their builder as well as commencement date of the development. Located on 22 Lygon Street, RIMA is surrounded by some of the most popular retail institutions, watering holes and eateries in the city. It is in perfect proximity to two of Australia’s finest universities – the University of Melbourne and RMIT University, Brunswick. Everything is a tram or bus ride way! Design-wise, RIMA is a polished ensemble of clean lines, steel and glass, whilst the interiors offer spectacular views, well-configured and seamless spaces and abundant natural lighting. RIMA’s rooftop club is a fabulous hideaway from the hectic Brunswick and Lygon pace, complete with a terrace lounge with open fire place, dining area with barbecue, teppanyaki grill, bar and a cosy outdoor cinema – surrounded by uninterrupted views of the city;

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