Ireland hikes stamp duty, amends planning laws to end bulk buying of homes

[DUBLIN] Ireland will impose a stamp duty charge of 10 per cent on the multiple purchase of 10 or more residential houses and ringfence up to 50 per cent of housing developments for owner-occupiers in a bid to discourage bulk purchases by institutional investors.

Apartments are fully exempt from the higher stamp duty so as not to undermine the viability of large scale projects, Finance Minister Paschal Donohoe said.

Multiple purchases by local authorities or approved housing bodies will also be exempt.

REUTERS