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Budget 2013 - Key Property Measures

06 December 2012
Category: Legal Updates

Sometimes, what is announced in the Budget is changed in the Finance Act and new measures can be introduced at that stage as well.

In his Budget speech, the Minister commented that both the residential and commercial property markets are showing signs of stabilisation in 2012. He confirmed that the reduced rates of stamp duty which he introduced in the 2012 Budget and the 7 year Capital Gains Tax holiday on property acquired before the end of 2013 will continue. While the major piece of property related news is the introduction of a residential property tax, the Minister was able to announce some new initiatives to encourage activity in the property market.