This article is from the Australian Property Journal archive
DEVELOPER Tian An LFD will gift $50,000 to one of their first home buyers within their Auburn Square.
Purchasers within the Rotholowman-designed development, who buy any apartment after September 18 and before November 30 of this year, will be entered into a draw for the cash prize.
First home buyers make up 80% of all current sales and with construction currently underway on the development, 70% of the first stage has sold out, with 60% of that first stage sold to first home buyers.
When this prize is combined with the $69,000 government incentive, this amounts to $119,000 towards a first home.
Tian An LFD believes that another contributing factor in the sales is the deadline for the first home buyers $25,000 grant approaching quickly at 31 December of this year.
Additionally, home buyers only have to contribute a 5% deposit on a new property, with the Federal Government matching this.
With the Value cap in Sydney for qualifying properties also being lifted from $700,000 to $950,000 as a stimulus measure for first home buyers in the 2020 Budget.
“Following what has been a very tough year for many, we at Tian An LFD want to make things a little easier for one of our purchasers going into Christmas so we thought a lottery worth $50,000 might be the perfect way to do this,” said Benjamin Lin, managing director at Tian An LFD.
The $320 million Auburn Square development will be completed by construction partner Binah Group.
The development is comprised of 427 apartments, specifically targeting first home buyers, with ground-level retail and additional essentials such as a medical centre and close access to transport.
“Located just 250m from the train station, minutes from Auburns’ famed Eat Street and with 2000sqm of green space and a communal podium garden on its rooftop, Auburn Square represents the height of convenience,” said Ben Stewart, senior sales at CBRE.
The development is located on Auburn Road, Auburn, NSW and the winner will be selected via lottery on December 12.
