On Air Now

Kildare Today - Repeat

10:00pm - Midnight

  • 045 901490
  • 0833 979797

Now Playing

Stamp Duty On Bulk Purchases Of Houses & Duplexes Now In Effect.

Stock image: Pixabay

Acquisition of 10 or more incurs 10% rate.

Changes to stamp duty for the bulk buying of houses and duplexes came into effect overnight.

Purchases of 10 houses or more will now incur a 10 per cent stamp duty rate after the Dáil passed the resolution without a vote.

One of the factors in the change was the purchase of 80% of a new Maynooth housing estate, Mullen Park, by an investment fund in recent weeks.

Opposition parties have said the move doesn't go nearly far enough and won't stop investment funds bulk buying property here.

Finance Minister Paschal Donohoe hit back at Sinn Féin criticism during last night's debate:

The measure won't include apartments.

Co-leader of the Social Democrats Roisin Shortall says this hole in the legislation will mean more young people being denied access to housing:

While the Public Expenditure Minister says there are no immediate plans to introduce a vacant property tax.

It comes after the Tanaiste Leo Varadkar raised the idea of a levy on vacant homes to tackle the housing crisis.

There are concerns about the large number of apartments lying vacant in Dublin and elsewhere.

Michael McGrath says they do want to make better use of existing stock but says there aren’t plans for a tax.

.

More from National News

Stay tuned to Kfm!

Get the Kfm Apps for you phone, tablet or smart speaker...

Kfm Kildare Weather

  • Fri

    Heavy Rain

    13°C

  • Sat

    Mist

    9°C

  • Sun

    Sunny intervals

    7°C

  • Mon

    Sunny intervals

    8°C

  • Tue

    Sunny intervals

    6°C