Property Advice

[OPC]

Myself and my partner bought an apartment for €200k in 2004 in Cork,after a 18months we decided to move to a 3bed house which we bought for €280k.
We converted the apartment mortgage to an interest only mortgage in the hope of letting it off, my solicotor advised me that revenue is due €5k once we rent it out,which i will duly pay.

Now we have found another house we like a 4bed,my question is if we sell the 3bed house but cant move to the 4bed for a while and move back into the apartment will i be liable for any cgt or stamp duty.
The current asking prices of the 3bed we bought is approx €340k

The 4bed is approx €400k and secondhand so i know im liable for stamp duty of 6%

Thanks

 

[ClubMan]

my solicotor advised me that revenue is due €5k once we rent it out,which i will duly pay.

Presumably the clawback of stamp duty? Don't forget the other tax and related implications of renting out a property:

Property Investment FAQ

my question is if we sell the 3bed house but cant move to the 4bed for a while and move back into the apartment will i be liable for any cgt or stamp duty.

If you are not an owner occupier then investor stamp duty applies.

The 4bed is approx €400k and secondhand so i know im liable for stamp duty of 6%

Shouldn't that be 7.5% (€381-€635K bracket)? See .

Why are you seemingly putting so many of your eggs in one basket (i.e. Irish domestic property)? Concentrating on a single asset class in this way involves risks that can be mitigated by diversifying across a broader range of assets classes, risk-reward profiles, geographic regions etc. Be aware of these risks and make sure that you can justify them. If you can't then you should diversify.