S.L. 246.4 Art. 2Establishment of value.

For the purpose of paragraph (b) of the proviso to article

5(1) of the Immovable Property (Acquisition by Non-Residents)

Act, the value of immovable property referred to in the said paragraph and in relation to which the Minister shall not withhold his permission is being established at €70,000 in the case of an apartment and €117,000 in the case of any other property.

For the purposes of this Order "apartment" means a one-storey residence, howsoever called, in a vertical block of at least two residential units overlying each other and built on a common site.