October saw promise of sale agreements reach a total sales value of €371 million, a €100 million increase over the same month last year.
These figures represent one of the best months for the sector since 2017. Stakeholders say the strong performance by the property sector is a result of measures introduced by the Government to help bolster the sector back in June.
These measures included a cut in stamp duty on property sales from five to 1.5 per cent and a reduction in property transfer taxes from eight to five per cent on the first €400,000.
The real estate market responded strongly, with July, August and September generating record-breaking sales totalling €850 million.