The Department of Finance is gearing up to analyze the impact of institutional investors on the housing market in the past three years. The focus will be on potential adjustments to the 10% stamp duty rate for investors with over ten properties, with consideration also being given to altering the property threshold. This review is expected to be presented to government leaders in the near future.
Earlier this year, Taoiseach Simon Harris urged the then Minister for Finance, Michael McGrath, to reexamine this issue given concerns about the impact of bulk purchases by investors on the housing market. Harris highlighted the need to ensure sufficient availability of homes for first-time buyers and questioned the effectiveness of the higher stamp duty rate in curbing bulk purchases.
This analysis could potentially lead to significant changes in the property investment landscape, with implications for both investors and prospective homebuyers. Stay tuned for updates as the government delves into this important issue.
[ad_2]
Source link
