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Developer puts weight behind NRAS

Developer puts weight behind NRAS

by Reporter 0 comments

Staff Reporter

AVJennings has vowed to boost the number of properties it delivers under the National Rental Affordability Scheme (NRAS).

The developer has just released 27 NRAS properties at its Nottingham Square community in Calamvale, with prices starting from just $386,500.

Investors that look to purchase one of the properties can expect solid rental returns and an annual tax-free cash incentive of up to $9,140, according to AVJennings executive general manager of developments Graham Marshall.

Mr Marshall said he was confident demand for NRAS properties would continue to grow as investors became more educated about the scheme.

“The NRAS is a relatively new property model but it is a blue-chip opportunity for investors looking for the certainty of ongoing returns in a tough economic climate,” Mr Marshall said.

“We have already received strong interest in our new tranche of NRAS properties at Nottingham Square at Calamvale.

“The fact that we have built NRAS product which is ready to be tenanted is a major drawcard, as this means that people who buy now can start earning rental income and receive the balance of the tax year tax offsets.

“In addition to completed properties, we have a number of dwellings currently under construction or available off-the-plan which can be secured under the NRAS – so there is still opportunity for purchasers who want more time to sort out finances.

According to Mr Marshall, just 10 per cent of the homes being built at Nottingham Square will be offered under the NRAS.

“However, we are excited about the possibility of offering more NRAS properties in the future at our other communities throughout Queensland, pending government approvals,” he said.

“AVJennings has great confidence in the NRAS scheme – it’s a fantastic program which not only pays well for investors, it also helps tenants, who pay 20 per cent less than market rent.”

 

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Developer puts weight behind NRAS
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