Originally posted by N16:
The Mrs and I have been looking into buying somewhere in London and have enough for a deposit - but the 3% stamp duty we would have to pay is blowing us out of the water.

Originally posted by Halpin:
If the 3% causes you such trouble, then perhaps you aren't in a strong enough position financially to buy.

Originally posted by interpol:
I'll sell you the one I have. Sitting tenant who covers the mortgage in a good rental area in Dublin. There will be no extra fees involved apart from what our solicitors charge us. Usually 1K, but that could be negotiated.

Originally posted by Rebel CNC:
You're resident in UK so rental profits (if you let) will be taxed in UK at your marginal tax rate there. You will need to include it in your UK tax return as foreign rental income.
Whether you let it or not you will be hit with water charges and new property tax which for a decent place in Dublin will probably be over €1k, possibly €2k within next two or three years.
Have you already a mortgage in UK? Stamp duty is only 1% for first time buyers there and considering the woes of the eurozone and potential meltdown, blighty may be better/safer bet for you.

Originally posted by theface2010:
@N16-I thought you hated Dublin:). My own advice would be to hold off at least another 12 months-prices are still falling here and anyone telling you any different is a liar. The only places I'd look at if I was you are apartments in around the IFSC-some of those are going for around €175k at auction and you are pretty much guaranteed rental income there of at least €2k per month. There are management fees and you will be liable for the new property and water taxes and nobody can tell what they will be in 2 or 3 years time. If I had the cash, I would buy one in the morning but they're not giving out mortgages here-approx €25k rental income per year on a €175k investment if you can find the right one.

Originally posted by N16:
Cheers face. I wouldnt like to live in Dublin, much prefer the quality of life in London. But still I see it as a safe investment. I'm in no hurry anwyay, would be at least 6 months before I'd get serious. Just trying to work out what extra costs there are. Cant believe they dont charge tax on the purchase/sale of properties in Ireland. Imagine how much money the government would have amde during the boom.

Originally posted by theface2010:
Not sure if you are being sarcastic Eaststand but they did have stamp duty during the boom-the government got billions from it and wisely used this money to increase public service pay levels and secure their vote. It is the reason why anyone who bought during the boom is(rightly) outraged at the thoughts of a property tax when they have already paid their property tax in the form of stamp duty.

Originally posted by N16:
So has stamp duty been scrapped then or whats the score?