It might surprise the minister for finance but you're not getting squat in Dublin for under €317,500 these day. So first time buyer or not, if you've saved €32,000 as a deposit and then when you bid on a house and it goes over 317,500 you have to find another €9,525 cash in order to pay for the house. That is a lot of cash to come up with.
Of course the minister is strangely content to force young couples to move out to Meath, Kildare, Wicklow into new estates as it benefits the building industry. The fact that it means new schools have to be built and old ones in more central areas have to demolished is also good for builders.
These are the current bands.
|€127,001 - €190,500||Exempt||3%|
|€190,501 - €254,000||Exempt||4%|
|€254,001 - €317,500||Exempt||5%|
|€317,501 - €381,000||3%||6%|
|€381,001 - €635,000||6%||7.5%|