Revenue eBrief No. 261/24

21 October 2024

Revised Rates of Stamp Duty on Residential Property

The rates of Stamp Duty on residential property were revised as part of Budget 2025. These revised rates came into effect on 2 October.

Since 2 October, the standard rates of Stamp Duty in respect of residential property are:

• 1 per cent where the consideration does not exceed €1 million, or
• where the consideration exceeds €1 million:
  • 1 per cent on the first €1 million,
  • 2 per cent on the next €500,000, and
  • 6 per cent on the balance.

However, where the consideration is in respect of 3 or more apartments in the same apartment block, the rates are:

• 1 per cent where the consideration does not exceed €1 million, or
• where the consideration exceeds €1 million:
  • 1 per cent on the first €1 million,
  • 2 per cent on the balance.

In addition, since 2 October, the higher rate of Stamp Duty that applies on certain acquisitions of residential property (excluding apartments) pursuant to section 31E of the Stamp Duties Consolidation Act 1999 is 15 per cent, replacing the 10 per cent rate that applied previously.

These revised rates apply to instruments (i.e., conveyances, transfers and leases) executed on or after 2 October 2024.

Transitional measures apply for instruments executed on or after 2 October 2024 but before 1 January 2025 where:

• there was a contract in place before 2 October 2024 that was binding on the parties to the contract, and
• the instrument contains a certificate to this effect.

In such cases, the rates that applied prior to 2 October 2024 will apply. To avail of these transitional measures the person filing the Stamp Duty return can tick the transitional arrangements box on the return and enter the date of the contract. If that date is before 2 October 2024, the old rates will automatically apply and the stamp cert will automatically issue.