Ireland Update: Stamp Duty Measure in Response to Bulk Purchases of Houses

Ireland’s Minister for Finance, Paschal Donohoe TD, has brought a Financial Resolution before the Dáil to impose a stamp duty charge of 10% on the purchase of 10 or more residential houses in Ireland within a 12-month period. This compares to the 1% stamp duty rate that would typically apply to the purchase of a residential house valued at €1,000,000 or less. The higher stamp duty rate, which has effect from 20 May 2021, is designed to deter institutional investors and property funds from bulk buying homes but the measure will apply to any party acquiring multiple residential properties in Ireland.

 

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