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TAOISEACH MICHEÁL MARTIN has said he will consider calls for the re-introduction of stamp-duty relief for first-time buyers.
Stamp duty applies to buyers when they purchase a home at a rate of 1% on the first €1m of the home’s purchase price, rising to 2% from €1m to €1.5m, and 6% on any amount thereafter.
Fianna Fáil’s housing spokesperson Séamus McGrath asked the Taoiseach to consider the matter in the run up to this year’s budget.
First-time buyers were entirely exempt from stamp duty before 8 December 2010, when specific exemptions were abolished.
McGrath said in 2024, stamp duty collected from first-time buyers is estimated at around €60m, highlighting the burden it places on these homeowners.
What do you think? Should stamp-duty relief for first-time buyers be re-introduced?
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