Amendment to the First Time Buyer Scheme

Through the publication of Legal Notice 277 of 2021, an amendment has been passed to the First Time Buyer Scheme, effective from 9 June 2020. The amendment makes it possible for persons who had acquired a garage of not more than 30m² before the acquisition of their first ‘sole residence’ property to avail themselves of the First Time Buyer Scheme on such latter property as long as certain duty relief was not availed of on the acquisition of the garage.

The First Time Buyer Scheme allows for a duty exemption on the first €200,000 on first time purchase of residential property. More details on the Scheme is available on our factsheet ‘Tax and Duty Schemes on the Transfer of Immovable Property’.