Sir, – Property Registration Authority (“the PRA”) fees have risen significantly from December 1st, 2012. In the average price case of a second-hand house purchase at €170,000 the fees to register ownership, mortgage and obtain an official Folio with map have jumped over 55 per cent in total.
Up to December 1st last, a purchaser of such an average house would have paid a total of €525 to the PRA, whereas now they pay €815.
Virtually every other cost for a purchaser has fallen significantly in the last few years, including the house price, the engineer and solicitor fees, and the stamp duty.
It is interesting so to note it is in such circumstances that the Government has chosen to raise the registration costs to such a scale.
Certainly it must be seen as unfair to the first-time buyer, but could it also be seen now as another form of property tax by the back door? – Yours, etc,
VERONICA FOLEY,
Solicitor,
Hannon Solicitors,
Shandon Street,
Cork.