With effect from 1 January 2023, the property value threshold will be increased from €400,000 to €440,000 (and to €510,000 with effect from 1 January 2024).
Property value limit
The property value threshold is relevant to the first-time buyer’s exemption from stamp duty. This exemption may be claimed by:
- the purchaser of a home;
- that 18 years, but still not 35 is years old and;
- has not previously applied the exemption and;
- the property acquired as main residence will use and;
- the total value of the property, including its appurtenances, does not exceed the property value threshold.
Buyer’s discount
In practice, it sometimes happens that a discount is applied to the market value of a property when a building plot or a new-build home is sold. The property value threshold may be assessed after this discount has been deducted from the market value. However, this will change with effect from 1 January 2023: for the property value threshold, the market value before deduction of the buyer’s discount must be taken into account. This is set out in an amended decision.