Stamp Duty Changes in 2011 Budget

The rate of stamp duty on residential property has been reduced to 1% on all properties valued up to €1 million,
A rate of 2% is applied to property valued over €1 million.

The changes take effect from 8 December 2010

All stamp duty reliefs and exemptions listed below are abolished

* • First time buyer relief

* • Exemption for new houses under 125 sq m in size

* • Relief on new houses over 125 sq m in size

* • Consanguinity relief for residential property transfers

* • Exemption for residential property transfers valued under €127,000

* • Site to child relief

Current stamp duty levels are zero on values below €125,000, 7% on the next € 875,000