Development land sales set to eclipse €1.2bn mark by year end
October 27, 2018
More than €1bn worth of development land has been bought since the start of this year and the figure could reach €1.2bn by the year-end if the current momentum is maintained.
In the month of September alone 21 sites in the Greater Dublin Area with combined guide prices exceeding €212m were brought to the market and they ranged in price from €2m up to €40m.
The increased supply is partly due to the Government’s ‘carrot and stick’. Many owners are selling because the Government reduced the hold period for Capital Gains Tax (CGT) exemption to four years. So if they bought between 2012 and 2014 they can now take their profits without paying CGT.