Thursday August 13, 2020

Savills boss: new tax rules have scared off foreign buyers

Finance workers fleeing Brexit would force locals out of Dublin, Potterton warns

Ian Guider

Markets Editor

15th January, 2017
Angus Potterton

International investors have pulled out of Irish property deals because of a change in tax laws relating to property funds last year, the head of the country’s biggest property advisory firm has said.

Angus Potterton, the managing director of Savills, told The Sunday Business Post that the change, which means foreign investors face a 20 per cent withholding tax, has caused uncertainty among investors and risks damaging the country’s reputation.

“One of...

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