When purchasing property in Ireland the main costs are 1) Stamp Duty, which is a tax paid to the Irish Government and 2) Legal
Costs which are payable to your solicitor who handles the property conveyance on your behalf. The applicable stamp duty rates for Irish residential property depend on the purchase price of a property and if you are
a first time buyer, an owner occupier or an investor. A first time buyer is briefly defined as a person who has not built or purchased a property either individually or jointly
in Ireland or abroad; An owner-occupier is briefly defined as a person who purchases a property which is to be occupied by the purchaser or a person on their behalf and to be utilised as their only or principal place of residence.
An investor is a person who is purchasing a property purely for investment purposes. To purchase a property larger than 125 sq. metres the owner/occupier will pay the relevant Stamp Duty applicable to them. This rate is based on a price equal to 25% of the total price of the property or the value of the site, whichever is greater. In general the rate of Stamp Duty applicable to Irish commercial property is 9%.
The rate is less if the property is valued €150,000 or less.Irish Property Purchasing Costs
Stamp Duty & Legal Costs
Stamp Duty Rates
Irish Residential Property
Stamp Duty Rates for Irish Property
Purchase Price
Irish Residential Property
(from 2nd December 2004)
First Time Buyer
Occupier
Owner Occupier,
Investor
up to €127,000
Nil
Nil
€127,001-€190,500
Nil
3%
€190,501-€254,000
Nil
4%
€254,001-€317,500
Nil
5%
€317,501-€381,000
3%
6%
€381,001-€635,000
6%
7.5%
over €635,000
9%
9%
Purchase Price
Irish Commercial Property
(from 4th December 2002)
up to €10,000
0%
€10,001-€20,000
1%
€20,001-€30,000
2%
€30,001-€40,000
3%
€40,001-€70,000
4%
€70,001-€80,000
5%
€80,001-€100,000
6%
€100,001-€120,000
7%
€120,001-€150,000
8%
over €150,000
9%
Irish Commercial Property
Legal Costs
Your Solicitor will act on your behalf to ensure the correct and legal transfer of
the property from the seller to you. Normally you can expect to pay between 1% - 1.5%
of the purchase price in Legal Fees, and VAT at 21% is added to this amount. You
should shop around for the best deal when engaging a solicitor.
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