Great value for spacious property
HOW often will the market offer a fine chunk of house for under €400,000? The gambling game is on as to whether or not prices will rise next year, but one thing is certain, tax relief for first- and second-time buyers runs out at the end December this year.
Mortgage Interest Relief Incentive can offer big saving for those who cleared the contract hurdle before year’s end and the relief will last until 2017 at 25% for FTBs and a not-too-shabby 15% for non-first time buyers. With a top of the range, half a million euro house, that could mean savings of more than €20,000 over the interest relief period allowed — so FTBs could be future-proofed if prices drop suddenly, which seems unlikely at this time. And with a very slight rise in mortgage lending it means more people in the property market overall, with a slight ticking over of demand.
