Snapping up Nama’s finest
Sir, – The list of foreign fund managers and investors snapping up prime Irish commercial properties at distressed prices continues to make the headlines in your property and business pages.
The majority of these transactions are being carried out on behalf of Nama, the property subsidiary of the Irish State, with the Irish taxpayer subsidising the vastly discounted prices. It is a very short-sighted policy by the State and Nama, to allow the fire sales of these prestigious properties to continue. For example, could Nama be run in tandem with the State pension fund, thereby ensuring, before it is too late, that the cream of these properties remains in the ownership of the State? – Yours, etc,
Kells, Co Meath.