While Finance Minister Paschal Donohoe has announced an "unprecedented level of funding" of €2.5 billion to the Government's Housing Programme in Budget 2020, there was significant changes for commercial property that may not be welcomed.

The budget introduces a 1.5% increase in stamp duty for non-residential property bringing the stamp duty to 7.5% for commercial property. Some say this could bring a level on uncertainty to the commercial property market.

Other significant implications of the budget are that Irish Real Estate investment Trusts (REITs) will no longer be able to rebase their properties to current market value when they exit the REIT regime.

Additionally, Irish Real Estate Funds (IREFs) will be subject to interest deductibility limitation which will impose a direct tax obligation on the funds.

Buying A New Home Guides

Buying a new home is exciting but it's important you have all the correct information. To make the process easier for you, we have created a series of guides to assist you on your home buying journey.

 

First Home Scheme

Read this step-by-step guide to help you understand the help you can get to bridge a gap as a first time buyer.

Find Out More

 

 

Help To Buy Scheme

Read this step by step guide to help you understand the assistance you get as a first time buyer.

Find Out More

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