Sell or Rent

G

gracey

Guest
I'm hoping that somebody will be able to help me. I have recently moved with my job down the country and am wondering if I should sell my apt in Dublin or rent it out. The apt is in Santry.

Apt cost €225,000 about 2 years ago and I have now got it valued at €315,000.
 
If you rent it out then you will have to pay 4% of €225K or €9K in stamp duty under the clawback scheme. If you retain it while living somewhere else for more than 12 months then some portion of any eventual resale gain will be assessable for CGT. While renting the normal investor tax treatment and other responsibilities will apply. If you sell now then neither of these taxes will apply.
 
I'm open to correction here but I think you might only have 12 months to sell it (without being liable for CGT) from the date you sign the contract on your new property and not the date you close the sale of your new property
 
I don't think that that is the case. You don't own the property until you close. In any case it's not when you take ownership of the property but when you vacate it as your PPR that matters in relation to CGT so this is irrelevant anyway other than to the determination of the SD clawback period.
 
Does CGT apply to profits from sale of apartment if is not going back into another prooperty?

e.g. Sell apt with 80k profit, invest in shares or savings ec
 
It applies regardless - i.e. any capital gain is assessable for CGT no matter what you do with the money. Rollover relief was abolished several years back.
 
Rent or Sell

I have an apt in Dublin but moved down the country in June 07. Am now wondering if I should sell apt or rent it out - have been informed by an estate agent that I shouldn't have any problems renting it out - the rent received would cover my mortgage. Would it be a good investment in the long term or should I just get rid of it and pay of outstanding loans which comes to about €60,000.

Worried as property market not good at moment and if I decide to sell next year instead of now, the value might have decreased even further.

Thank you.
 
Re: Rent or Sell

Again? Why don't you reply in one of your previous threads, this one's just going to get locked. Again.
 
Re: Rent or Sell

What exactly has changed since this query was posted for the first time?

Did you read any of the information linked to in that thread?

  • Have you tried to rent or sell the property since you first posted?
  • Have you considered how you would pay any stamp duty clawback due if you rent out the property?
  • How do you intend to repay €60,000 in loans if you don't sell the property?
  • Are you comfortable with the level of responsibility/work/expense that goes with being a landlord?
Please take the time to respond to some of these questions and browsing through the Property Investment Key Posts and other threads that address similar issues before starting another thread.
 
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