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Stamp Duty on Sites

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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    A site is not classified as 'residential' in nature. The same rates of duty apply for all:

    First 10k exempt
    10k-20k = 1% Aggregate total
    20k-30k = 2% of aggregate
    30k-40k = 3% of aggregate
    40k-70k = 4% of aggregate
    70k-80k = 5% of aggregate
    Over 80k = 6% of aggregate

    When calculating the price of the site- recent commercial court rulings generalise that land and site values have lost ~80-85% of their peak values (this varies greatly depending on location and whether the sites are serviced etc.)


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    #3
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭Victor


    smccarrick wrote: »
    When calculating the price of the site- recent commercial court rulings generalise that land and site values have lost ~80-85% of their peak values (this varies greatly depending on location and whether the sites are serviced etc.)
    Indeed, there was one site last week considered to have lost 96% of its value (€15,000,000 to €600,000). However, I imagine such drops are restricted to prime development sites and not one off housing sites, although I imagine drops of 50-60% are common. It might be useful to check various estates agents for local prices.


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Victor wrote: »
    Indeed, there was one site last week considered to have lost 96% of its value (€15,000,000 to €600,000). However, I imagine such drops are restricted to prime development sites and not one off housing sites, although I imagine drops of 50-60% are common. It might be useful to check various estates agents for local prices.

    It makes you angry when the world and his dog knows this- yet the Minister for Finance is determined that NAMA is to only pay a 50% discount.........


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