This year a new tax bill in Dublin was introduced that has not been welcome amongst the public. As we see rents rapidly increasing in Dublin, a 1 percent stamp duty on rents over €2,500 becomes ever more pertinent than before.
This 1 percent duty was initially set at around €1,500 month. It was then raised to €2,500 after the financial crisis to help relieve some of the pressure on tenants.
However, it has now came to that level where a more massive amount of people are hitting this €2,500 a month target.
With housing rates increasing rapidly, an analysis by Goodbody Stockbrokers claimed around 55 percent of three-bedroom Dublin homes are above this €2,500 level on the Daft.ie. A third of all these properties are in the same area.
What does this mean for many families?