Neale Richmond indicated that Fine Gael plans to increase stamp duty on bulk home purchases in Budget 2025, aiming to reduce vulture fund acquisitions.
Richmond emphasized the necessity of reviewing policies continuously, noting that while the current stamp duty has helped slow bulk purchases, its effectiveness is not complete.
He referenced a striking statistic of 600 homes purchased this year by vulture funds, stating these homes could have been owned by families instead.
The Fine Gael Minister suggested doubling the existing 10% stamp duty to 20%, asserting that their aim is to enhance home ownership amidst market challenges.
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