Minister for Housing, Local Government and Heritage, Darragh O’Brien (left) and Minister for Finance, Paschal Donohoe TD addressing media at Government Buildings yesterday
The Dáil is set to vote today on a proposal to introduce a stamp duty charge of 10% on the purchase of ten or more houses under plans agreed by Cabinet last night.
After more than two weeks of deliberations the Government has moved to change tax and planning laws to prevent big investors buying up housing estates.
The higher charge will also apply where someone acquires ten or more units on a cumulative basis over a 12-month period.
However, it will not apply to those bulk buying apartments, which is the focus for many in the Opposition already.
Pointless. These vulture funds will simply change their company names. They have hundreds. Immediate loophole.
— str8updub (@str8updub) May 18, 2021
NEW: Leo Varadkar made what was described as a “bizarre” intervention at Cabinet last night
He questioned what making housing a “number one priority” meant and sought assurances that health, unemployment, climate and education would not be downgraded 👇👀 https://t.co/drDvuaYIpj
— Hugh O'Connell (@oconnellhugh) May 19, 2021