Stamp duty of 2% needed to unlock stalled housing investment, says Savills 

Property advisor warned in its pre-budget submission that persistently high transaction costs are dampening investment in the commercial property sector

It is also recommending the Government update the Help-to-Buy (HTB) scheme threshold from its current €500,000 cap to at least €621,000, reflecting the level it would be today if it had kept pace with inflation since the scheme's introduction in 2017.

The Government need to revert commercial stamp duty from 7.5% back to 2% to unlock stalled investment and accelerate its housing delivery, Savills Ireland has said.

Publishing its pre-budget submission, the property advisor warned that persistently high transaction costs are dampening investment in the commercial property sector, while buyer supports that haven’t kept pace with inflation are making it harder for first-time buyers to access new homes.