Purchases of more than 10 houses at once will attract a stamp duty of 10 per cent, under plans agreed by Government tonight. Both Minister for Housing Darragh O’Brien and Minister for Finance Paschal Donohoe informed Cabinet colleauges of the changes on Tuesday evening. Firstly, bulk purchases will be banned via a circular to be issued to local authorities in the coming days. Currently stamp duty on residential property is 1 per cent on the first €1 million. It is understood that there will be targeted rules to prevent people circumventing the rules by splitting multiple purchases into individual units.

Source: The Irish Times May 18, 2021 10:58 UTC