evidence: Housing prices in Belfast are generally lower than the UK mainland. This means that owning a property is within most people’s grasp. The majority of the people living in Belfast and the surrounds prefer to buy property rather than rent. [...] Whether you own or rent your home, you will be subject to council tax based on the area in which you live and the size of the property you live in. Learn more about council tax in Belfast at Belfast City Council Finally, if you decide to buy a flat or house in Belfast you’ll have to pay stamp duty. While there’s no tax on the first £125,000 of your home value, the marginal rate increases to 12% on a value of over £1.5 million.