Estate agents are calling for ministers to introduce a stamp duty surcharge holiday, rather than the short-term reduction proposed in the latest Government of Jersey budget.
People who buy homes they do not intend to live in currently pay an extra 3% in tax on top of stamp duty, but the government proposed it be lowered to 2%.
The surcharge was introduced in January 2023 to curb excess demand in the housing market, which has since slowed down, Statistics Jersey figures showed.
Jersey Estate Agents Association and building firm Ashbe Construction want the surcharge to be scrapped for at least six months to boost the economy, but Housing Minister Sam Mézec said first time buyers should be prioritised.
