Buying off the plan property in Melbourne has become one of the most popular ways for buyers and investors to secure a modern home in a growing market. With new developments across Melbourne’s south-east, opportunities continue to expand in well-connected suburbs like Murrumbeena and Cheltenham.
However, before committing, it’s important to understand how buying off the plan in Victoria works, along with the benefits, risks and key factors to consider before signing a contract.
At Lewin Real Estate, we currently offer premium off-the-plan opportunities, including
👉 Murrumbeena Place apartments and
👉 2A & 2B Eagland Road, Cheltenham townhouses
These developments provide access to high-quality new properties in Melbourne’s south-east, ideal for both owner-occupiers and investors.
What Is Off the Plan Property in Melbourne?
Buying off the plan means purchasing a property before construction is completed, based on architectural plans, floorplans and design specifications rather than a finished home.
This is common across new apartment developments and townhouse projects in Melbourne, where buyers secure a property early and benefit from future growth potential.
For example, buyers purchasing at
👉 Murrumbeena Place or
👉 Eagland Road Cheltenham
are entering the market at an early stage of development.
Once contracts are signed and the deposit is paid (typically 10%), settlement occurs once construction is complete and titles are registered.
👉 Learn more about your rights when buying property via
Consumer Affairs Victoria
Why Buy Off the Plan in Melbourne?
There are several reasons why buyers choose off-the-plan property in Melbourne, particularly in high-growth areas such as Murrumbeena and Cheltenham.
One of the main advantages is the ability to lock in today’s price, even though settlement may occur 12–36 months later. In a rising market, this can result in capital growth before completion, giving buyers an early financial advantage.
Off-the-plan properties are also brand new, meaning buyers benefit from modern layouts, energy-efficient features and minimal maintenance. This is particularly appealing in developments like Murrumbeena Place apartments, where contemporary design meets convenience and lifestyle.
Another key benefit is the extended settlement period, which gives buyers more time to save, organise finance and plan ahead without the immediate pressure of settlement.
Buyers may also have the opportunity to choose finishes, colour schemes or upgrades, depending on the stage of the development, allowing for a more personalised home.
In some cases, eligible buyers can access stamp duty savings in Victoria, particularly when purchasing early in the development process, which can reduce upfront costs.
From an investment perspective, off-the-plan properties can offer strong depreciation benefits, which may provide tax advantages for investors. Combined with low maintenance costs, this makes them an attractive option for long-term investment.
New developments are often built in well-connected, high-demand locations, close to public transport, shopping centres, schools and employment hubs. Suburbs such as Murrumbeena and Cheltenham continue to see strong demand due to their connectivity, lifestyle amenities and access to key infrastructure.
Finally, off-the-plan properties often appeal to a wide range of tenants and buyers due to their modern design, energy efficiency and move-in-ready condition, supporting both resale value and rental demand.
👉 For market insights, visit
How the Off-the-Plan Buying Process Works
The process of buying off the plan in Melbourne follows several key steps.
First, buyers select a property based on plans and specifications. This may involve reviewing brochures, floorplans and display suites. Once a property is chosen, a contract of sale is signed and a deposit is paid.
Construction then takes place, which can range from 12 to 36 months depending on the project. Once construction is complete, the titles are registered and buyers proceed to settlement.
👉 Learn more about land titles and settlement through
Land Use Victoria
What to Consider Before Buying Off the Plan
Before purchasing an off-the-plan property, buyers should carefully review all documentation and seek professional advice.
It is important to understand contract terms, including sunset clauses, and confirm all inclusions, finishes and specifications. Buyers should also research the developer’s track record and consider the long-term potential of the location.
Suburbs such as Murrumbeena and Cheltenham continue to perform strongly due to their proximity to transport, shopping centres and lifestyle amenities.
Developments like
👉 Murrumbeena Place apartments and
👉 Eagland Road Cheltenham townhouses
are positioned within these high-demand areas, making them attractive options for both homeowners and investors.
👉 For stamp duty and cost information, visit
State Revenue Office Victoria
Is Buying Off the Plan a Good Investment in Melbourne?
Buying off the plan can be a smart strategy for securing a new property in Melbourne’s high-growth suburbs.
With the potential for capital growth, strong rental demand and access to modern homes, off-the-plan properties remain a popular choice. Locations in Melbourne’s south-east, including Murrumbeena and Cheltenham, continue to attract buyers due to their connectivity and long-term growth potential.
👉 For broader industry insights, visit
Real Estate Institute of Victoria
Explore Off-the-Plan Property in Melbourne with Lewin Real Estate
At Lewin Real Estate, we specialise in helping buyers secure the best off-the-plan property opportunities in Melbourne.
Current developments include:
👉 Murrumbeena Place apartments
👉 2A & 2B Eagland Road, Cheltenham townhouses
If you’re considering buying off the plan in Melbourne, our experienced team at Lewin Real Estate can guide you through the process and help you find the right property.
Disclaimer
The information provided by Lewin Real Estate is for general informational purposes only and does not constitute financial, legal or investment advice.
While we aim to provide accurate and up-to-date information, we recommend that you seek independent advice from a qualified financial advisor, accountant, solicitor or other relevant professional before making any property or investment decisions.
Lewin Real Estate does not provide financial advice and accepts no responsibility for any decisions made based on the information provided.