The Ministry for Finance has issued a reminder to the general public that the scheme announced in the Budget 2013 exempting those buying their first residential property from the 3.5% duty on the first €150,000 of the property value ends on the 30th of June 2015.

However, it said that following requests notably from notaries, while the deadline for the promises of sale to be signed will remain the 30th of June 2015, the deadline for the registration of the final deeds is being extended by three (3) months until the 30th of September 2015.

In view of the successful uptake of this scheme, the Ministry for Finance has been approached by various stakeholders who have requested this partial extension. The Ministry said that it has considered the request as reasonable. This partial extension will help avoid undue pressure on notaries’ offices during the last weeks prior to the deadline.

The Ministry said that the scheme has been a huge success in helping young people buy their first home, and has given a much-needed stimulus to the property market and the economy.

Permalink: Exemption scheme for first-time property buyers ends 30th June