I don’t agree…the sector needs a kick start!

I am in the business and first time buyers have been slowing down for the past 2/3 year.

I do believe this measure will get things going…mind you young couples may save up to €5000 in stamp duty…that translates to a 12 month mortgage repayment.

Exactly. Thank you.

On what basis will ‘a couple’ be defined?

[Daphne – You would think that single people would be in greater need of help, buying a flat on their own, with one income.]

Yes – if it was a PERMANENT ONE, and not just for one year.

He’s basically cutting and pasting from the MDA’s ‘proposals’.

There’s no design we’re talking here. Just plain vested interests.

Watch out for BOV.

I dare say the government is giving a discount to first-time buyers so that they will spend the discount on their property instead.

So basically the government is forfeiting €5200 so that contractors and developers can get them instead. Nice way of repaying election dues and promises without actually looking bad.

What if vendors do not want to extend those agreements, if they have commitments of their own? It’s going to cause more uncertainty in the market with a whole lot of pressure on notaries.

The bill does not specify how first-time buyers are to be identified. Will notaries have to order searches on the buyers to determine whether they truly are first-time buyers or is a declaration to this effect enough?

Are those who have inherited property, as against buying it, disqualified from enjoying this rebate should they be interested in buying for the first time?

“What worries me more is:- what is going to happen after the year…..are prices or sales going to drop bringing on a property recession?”

Probably the Minister will extend the scheme into the following year come the 2015 budget. Limiting the scheme to 1 year for the time being is a marketing gimmick intended to maximise revenues in 2014 until the Passport Sale scheme takes off.