The Urban Development Institute of WA has called for the foreign buyers scheme to be scrapped and for the state government to make the off-the-plan duty rebate scheme permanent and extend it to apartment projects under construction.

The scheme currently provides a 100 per cent rebate for residential apartments in multi-storey developments valued below $500,000, tapering to the 50 per cent rebate for apartments valued at $600,000 or more.

“The housing supply shortage is at critical levels,” said UDIA WA chief executive Tanya Steinbeck.

“For apartment projects in particular, developers rely heavily on presales to make a project viable.

“These measures will assist in building much-needed consumer confidence and attracting investors in this sector of the market.”

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