First Time Buyer Restricted Properties In Jersey

There are a number of developments in Jersey where the properties can only be owned by "first time buyers". This term includes both true first time buyers and those who fall within the exemptions below.

You may be able to buy a property within a first time buyer development despite already having owned a property:

If you already own a share transfer flat you may be able to buy a property in a first time buyer development if you (1) sell your flat to anyone, not necessarily a first time buyer, and (2) buy a property larger than your current home i.e. moving from a two bedroom flat to a three bedroom house; If you have bought a flying freehold flat you may be able to buy a freehold property in a first time buyer development, provided you sell your flying freehold flat to a first time buyer and buy a property larger than your current home; If you have previously owned land before, but the land did not contain residential property, the housing minister has discretion to grant you first time buyer status to buy in a first time buyer development. This could be agricultural land or land inherited jointly with siblings; and Similarly, if you have owned property that was once owned by a spouse or ex-spouse, the housing minister will consider your circumstances on an individual, case by case basis in determining whether you fall within the exceptions. These exceptions will permit you to be considered a first time buyer for the purpose of buying within a first time buyer development, but you will not benefit from reduced stamp duty or land transaction tax.

First Time Buyer Stamp/ Land Transfer Tax

The fact that a property is in a first time buyer development does not automatically confer any concession for stamp duty (freehold) or land transaction tax (share transfer), as different, stricter criteria apply. Also, the price may be above the...