Stamp Duty Concessions See Interest In Adelaide CBD Rise

Real estate in Adelaide has received a boost, with stamp duty concessions on eligible apartments seeing interest from buyers rise.

With discounts offering a saving of considerable amounts, those interested in purchasing are inquiring into new properties, the Adelaide Advertiser reports.

Real Estate Institute of South Australia chief executive Greg Troughton explained to the publication that the city area is becoming a hub of activity as a result of the government reform, but argued that the changes should be more wide reaching.

He said: "We'd love to see these concessions extended right across the full range of housing and obviously that's something we will be barking on about right up until the next state election.

"If it works for apartment living and encourages the success of the government's 30-year plan for greater Adelaide, then maybe we need to look at that for broader opportunities for the housing market."

In May last year, the Weatherill government introduced the changes as part of a $5.1 million initiative that could see first home buyers save up to $31,000 and subsequent buyers save $21,000.

In launching the initiative, premier Jay Weatherill said that the government is looking to improve the vibrancy of the city and is encouraging more people to live in the CBD as a way of achieving that.