Transfer of Title
On transfer of title, the buyer must pay the transfer fees in relation to the property. These can be quite costly; they are based on a rising scale in accordance to the purchase price and are as follows:
€0 - €85,000 - 3% / €85,000 - €171,000 - 5% / €171,000+ - 8%
It is beneficial is the property is purchased in joint names, as the transfer fees when buying, and capital gains tax when selling, is payable on each individual's half share.
Agents commissions fees are payable by the seller.
Property tax is payable annually and the rate varies from area to area, and varies depending on the property type: land, a residential house, commercial property and so on. Tax can be charged in a flat annual fee, or in some cases at 0.05% of the estimated property value in accordance with the title deed (in either case, the amounts are moderate).
Other fees payable by a property owner include (some or all of the following:
• sewerage charges payable annually
• services such as refuse removal payable annually
• water supply and fees payable every four months
• electricity supply and fees payable every two months
• telephone supply and fees payable monthly