Wealthy buyers big winners in new regime

WEALTHY house buyers targeting properties worth more than €1 million stand to benefit most under the Government’s overhaul of the stamp duty regime, with massive savings of €28,750.

Once house buyers cross the threshold of €650,000, their savings will double to €21,750, compared to a house costing €600,000 which has a saving of €11,750.

Under the new, simplified system, the scale of six rates will be replaced with rates of 7% and 9%.