386. Deputy Michael Cahill asked the Minister for Finance to clarify issues in regard to the Finance Bill 2026 in respect of purchasing an apartment (details supplied); and if he will make a statement on the matter. [61256/25]

As the Deputy will be aware the temporary 9% rate of VAT on the supply of apartments came into effect on budget night. Following a Committee Stage amendment to the Finance Bill the measure will be extended to the construction of apartments, and the supply and construction of apartment blocks, including student accommodation. This extension of scope will come into effect on 26 November 2025.

Due to the complexity of the measure and the requirement to protect the existing parked rate, further considerations are required. My officials have been engaging with stakeholders throughout the process and this will continue until report stage to ensure the provision meets the policy intention, within the confines of the EU VAT Directive.

It should be noted that depending on the specific contractual details it may be at the discretion of the developer as to whether the benefit of the reduction of the rate will be passed on to buyers.