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NAMA Portfolio

Dáil Éireann Debate, Wednesday - 30 April 2014

Wednesday, 30 April 2014

Questions (58)

Joe Higgins

Question:

58. Deputy Joe Higgins asked the Minister for Finance the number of National Asset Management Agency-owned houses and apartments that exist in the four Dublin local authority areas. [18763/14]

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Written answers

The Deputy will be aware that NAMA's role in relation to property is, like a bank, that of a secured lender and that it does not, generally speaking, own residential or other property assets securing its loans. Rather, such properties are owned and managed by NAMA debtors or, in the case of enforcement, are managed by the appointed insolvency practitioner. I am advised that NAMA has an exposure as a secured lender to approximately 14,000 completed residential properties in Ireland through its debtors and receivers and that about 70% of these properties are located in Dublin.

The Deputy may also be aware that NAMA made over 4,600 residential units controlled by its debtors and receivers available for social housing. Demand has been confirmed by local authorities for just over 1,800 of these properties and NAMA is facilitating the purchase or leasing of these houses and apartments by local authorities and approved housing bodies.

I am advised by NAMA that 1,321 houses and apartments have been made available to local authorities in Dublin. Demand has been confirmed by the Dublin local authorities for 534 of these properties, of which, to date, 324 have been delivered for social housing. The breakdown of these figures by Dublin local authority is set out below. The properties which the local authorities did not consider suitable for meeting social housing demand have subsequently been let in the private rental market or sold by their owners or receivers.

Offered by NAMA

Demand Confirmed by NAMA

Delivered to Date

Dublin City Council

753

322

163

Dun Laoghaire Rathdown

305

114

77

Fingal County Council

203

56

44

South Dublin County Council

60

42

40

1,321

534

324

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