Ireland: Proposed 10% stamp tax on bulk purchases of residential housing

To satisfy requirements of EU Code Group for partnerships to be subject to economic substance rules in all “nil” or only nominal tax jurisdictions

To satisfy requirements of EU Code Group for partnerships

Proposed changes to the stamp tax (duty) and other measures are intended to address bulk purchases of houses by institutional investors.

Under the proposal:

  • A stamp tax at a rate of 10% would be imposed on the cumulative purchase of 10 or more residential houses in a 12-month period.
  • New planning measures would prohibit the bulk buying of houses and duplexes in new developments.
  • An “owner occupier guarantee” was introduced so that that a minimum number of houses and duplexes in a development are designated for owner occupiers.

The stamp duty measures would take effect from 20 May 2021.

KPMG observation

The proposal is intended to target purchases by institutional investors of all or a significant proportion of residential housing estates, with the 10% rate acting as a disincentive to multiple purchases of housing estates before they reach the market, thus denying first-time buyers an opportunity to purchase a home.

Read a May 2021 report prepared by the KPMG member firm in Ireland



The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.