Vol. 522 No. 3
103 Mr. U. Burke asked the Minister for Finance the measures he will introduce to off set house price increases by developers as a result of the recent changes in stamp duty, in view of the fears that second hand house buyers will be made to carry the burden of this benefit; and if he will make a statement on the matter. [18737/00]
There is no stamp duty on the sale of new residential property where the purchaser is an owner-occupier and the house is not greater than 125 square metres. If a new house is more than 125 square metres, stamp duty is charged only on the site cost or a quarter of the value of the house, whichever is the greater.
In relation to second-hand houses, I am confident the package of tax measures introduced by the Government last week will help to reduce the cost burden faced by home-buyers and widen their options. In particular, the revised regime is structured to confer advantage on those who are trying to buy their first home.
