Ireland: Stamp tax and “bulk purchases” of houses

Stamp tax at a rate of 10% on the cumulative purchase of 10 or more residential houses

Stamp tax at a rate of 10% on the cumulative purchase of 10 or more residential houses

The Finance (Covid-19 and Miscellaneous Provisions) Act 2021 (enacted 19 July 2021) includes stamp tax (duty) changes that address the “bulk purchase” of houses in Ireland.

In general, the changes impose a stamp tax at a rate of 10% on the cumulative purchase of 10 or more residential houses in a 12-month period (effective from 20 May 2021).

In addition to these changes, new planning measures are intended to prohibit the bulk buying of houses and duplexes in new developments, as well as the introduction of an “owner occupier guarantee” which would provide for a minimum number of houses and duplexes in a development are designated for owner occupiers.

Read an August 2021 report prepared by the KPMG member firm in Ireland 

 

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