Cormac Devlin (Dún Laoghaire, Fianna Fail)
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29. To ask the Minister for Finance if he will report on the stamp duty raised on the bulk acquisition of houses since the changes announced in Budget 2025 took effect; and if he will make a statement on the matter. [27869/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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In 2021, several measures were introduced with the aim of dis-incentivising investment funds from buying up large numbers of completed houses, including a higher 10 per cent rate of Stamp Duty on the bulk acquisition of houses (apartments are excluded), which is legislated for in section 31E of the Stamp Duties Consolidation Act (SDCA) 1999.

The standard rates of stamp duty applying on the acquisition of residential property are currently 1 per cent on values up to €1 million, 2 per cent on value in excess of €1 million and 6 per cent on any balance above €1.5 million (the 6 per cent rate having been introduced in Budget 2025/Finance Act 2024).

In advance of Budget 2025, delivered on 1st October, it was determined that the higher rate of Stamp Duty on bulk acquisitions should be adjusted due to the increasing number of houses in scope of the higher rate since its introduction. A rate of 15% was therefore chosen as an appropriately calibrated rate to continue to disincentive bulk purchases of houses. This was put into effect by Financial Resolution on Budget night, and subsequently legislated for in section 90 of Finance Act 2024.

Section 31E of SDCA 1999 therefore now provides for a higher 15 per cent rate of Stamp Duty to be charged on the acquisition of individual residential properties (houses only), where a person acquires at least 10 such properties during any 12-month period.

I am advised by Revenue that the Stamp Duty raised at the 15 per cent rate under Section 31E, effective from the 2nd of October 2024, is €2 million.