Budget 2011 – Stamp Duty on Residential property

The 2011 Budget includes major changes to Stamp Duty on residential property transactions.

Budget 2011 Cuts - Brian Lenihan Minister for FinanceThe main change is the introduction of a new flat rate of 1% for transfers of residential property to 1% on properties valued up to €1 million, and a 2% rate on properties valued over €1 million.

The following Stamp Duty reliefs and exemptions are abolished.

  • First time buyer relief
  • Exemption for new houses under 125 sq m in size
  • Relief on new houses over 125 sq m in size
  • Consanguinity relief from for residential property transfers between close relatives.
  • Exemption for residential property transfers valued under €127,000
  • Stamp Duty ‘site to child’ relief


The changes apply for contracts executed on or after 8 December 2010. Transitional measures will apply to contracts currently in progress that are completed by 30 June 2011.