Nama property sales


Sir, – I know I’m missing something here, but what?

You report that the National Asset Management Agency (Nama) is selling 54 apartments in Finglas, Dublin 11 for a guide price of €13.85 million, or an average of €256,000 per apartment. (Commercial Property, June 30th).

There appears to be no option for individuals (or families) to make offers on these apartments.

There is a shortage of apartments for individuals to buy in Dublin. The Government’s mantra has been that investment funds are needed because only they will forward-finance the building of apartments.

This doesn’t apply in this case since the apartments are already built.

Nama’s mantra to justify controversial sales has been that it is tasked with getting the highest price possible. If its mandate really does force it to promote such anti-social transactions then it is time to adjust that mandate. Meanwhile, supply dwindles and property prices rise.

– Yours, etc,


Dublin 6W.