Investors spend €180m bulk-buying homes despite higher stamp duty levy

Increased taxes were introduced in an effort to discourage funds from bulk-purchasing properties in housing estates

The higher stamp duty rate does not apply to funds bulk purchasing apartments. Picture: Getty

Property investors and institutional funds have spent almost €180 million on bulk buying 561 homes since new government rules were put in effect to limit this practice.

New figures released to the Business Post show many property investors are paying ten-times the typical stamp duty rate, €32,000 per house, to bulk buy homes.

In May 2021, the government put in place new stamp duty rules in an attempt to discourage investment funds from bulk-purchasing homes ...