Govt 'should have cut stamp duty on residential properties'

Estate agents, Sherry FitzGerald, have welcomed the reduction in stamp duty on commercial property (down from 9% to 6%), but have said the Minister for Finance should have changed the rate of stamp duty for residential property.

Marian Finnegan, Chief Economist, Sherry FitzGerald Group said: "The reduction in the rate of stamp duty applicable to commercial property is a much-needed positive initiative which will allow a greater alignment between the Irish and international commercial investment markets."