The Minister of Finance and Employment has on the 28th October 2024 presented the Budget Speech for the year 2025. The following is a summary of the proposed changes with respect to duty on immovable property.
- Duty exemption for first time buyers and the refund of part of the stamp duty paid by second time buyers, as well as the grant of €10,000 spread over 10 years for first time buyers will be extended.
- The exemption from income tax and duty on the first €750,000 of the value of properties located in a UCA, or built for more than 20 years and which have been vacant for a period of 7 continuous years immediately preceding the date of transfer will continue.