Stamp duty is payable when you buy a house or apartment that is used as a dwelling and is classed as residential property for Stamp Duty purposes. The Stamp Duty rates on a transfer of residential property are:
• 1% on consideration up to €1 million
• 2% on any consideration over €1 million and up to €1.5 million
• 6% on any consideration over €1.5 million. 
 

Stamp duty is not incorporated into your mortgage and will need to be paid for separately from your savings.

New Homes:
VAT (value-added tax) is charged on new build properties at 13.5%, but not on second-hand properties. The purchase price of a new property includes the VAT. However, stamp duty is calculated on the VAT exclusive price of the new build property and not on the price including VAT. Your solicitor will advise you of your stamp duty liability in advance of the closing date when it becomes payable.

How much Stamp Duty do I have to pay?

Second-hand property

Example 1: 
If you buy a home for €450,000, the stamp duty will equate to 1% as you are below the €1 million threshold and therefore the stamp duty that will need to be paid will be €4,500.
Example 2:
If you buy a home for €1,400,000 you will pay 1% stamp duty on the first €1,000,000 of the purchase price and 2% on the balance of €400,000. The total payable is €18,000 (€10,000 + €8,000)  
 

New build property

Example:
If you buy a new build home priced at €375,000 (including VAT), the stamp duty is payable only on the VAT exclusive figure which is €330,396.47 The stamp duty rate is 1% as you are below the €1 million thresholds and the stamp duty that will need to be paid in this instance is €3,303.96.

Where do I pay my stamp duty?

Your solicitor will calculate the stamp duty once you are at the final stages of closing the sale of your property and stamp duty is paid by your solicitor to the Revenue Commissioners. 

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