Tuesday, 10 June 2014

Questions (166, 184, 185)

Stephen Donnelly

Question:

166. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide, in tabular form, the number of residential National Asset Management Agency properties in each county; and if he will make a statement on the matter. [24424/14]

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Kevin Humphreys

Question:

184. Deputy Kevin Humphreys asked the Minister for Finance if he will provide a breakdown, in tabular form, of the number of units the National Asset Management Agency made available for social housing in each local authority; if they are apartments or houses; the number that have been accepted for social housing; the number that are subject to negotiations; and if he will make a statement on the matter. [24575/14]

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Kevin Humphreys

Question:

185. Deputy Kevin Humphreys asked the Minister for Finance the number of housing units the National Asset Management Agency currently controls; if he will provide a breakdown of the number that are apartments or houses; the number currently occupied; if they are habitable or in need of finishing out or refurbishment; if he will indicate for each of these figures the number that are in the county of Dublin comprising the four local authorities; and if he will make a statement on the matter. [24576/14]

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Written answers (Question to Finance)

I propose to take Questions Nos. 166, 184 and 185 together.

A detailed breakdown of the property securing NAMA's remaining loans by region and by sector is outlined on page 42 of its Annual Report and Financial Statements for 2013, which is available on the Agency's website, www.nama.ie.  In evidence to the Dáil Committee of Public Accounts on 29th May, NAMA indicated that it has an interest as a secured lender in about 16,000 completed residential properties in Ireland, mainly apartments, which are located in Dublin, Limerick, Cork and Galway.  The vast majority of these properties are currently let by their owners/receivers in the private rental market.  In addition, NAMA has to date made 5,237 residential properties available for social housing.  This includes 500 apartments that will soon become available in Tallaght following the completion of substantial remediation works funded by NAMA and which are, NAMA understands, subject to on-going assessment by the Dublin local authorities.

Of the 5,237 properties made available by NAMA, Local authorities have confirmed demand for 2,004, 695 of which have been contracted.  NAMA expects that 1,100 properties will have been delivered for social housing through this process by the end of 2014.  This does not include potential delivery arising from the 500 apartments recently identified in Tallaght.  The Deputy will appreciate that NAMA has no role in terms of determining the take-up of properties that it has made available for social housing as this is a matter for local authorities. Where local authorities do not take up properties identified by NAMA, the properties are let or sold by their owners/receivers.  Once demand has been confirmed for houses and apartments and contracts entered into, NAMA immediately makes them available for social housing.  This often involves significant NAMA investment to complete construction works and resolve outstanding statutory compliance issues.  NAMA provides detail on this process on page 30 of its Annual Report and Financial Statements for 2013. 

Local Authority Functional Area

Total Made Available by NAMA

Demand Confirmed by Local Authorities

In Negotiation

Complete/ Contracted

Carlow Co. Co.

137

77

-

55

Cavan Co. Co.

49

17

-

-

Clare Co. Co.

202

42

23

7

Cork City

419

95

41

53

Cork Co. Co.

471

148

67

55

Donegal Co. Co.

118

55

5

Drogheda Borough Council

27

27

-

27

Dublin City

769

388

201

163

Dún Laoghaire-Rathdown Co. Co.

305

114

-

77

Fingal Co. Co.

203

56

-

44

Galway City

137

137

86

45

Galway Co. Co.

114

70

21

15

Kerry Co. Co.

114

54

-

15

Kildare Co. Co.

243

82

3

64

Kilkenny Co. Co.

167

87

66

5

Laois  Co. Co.

98

6

-

Leitrim  Co. Co.

35

-

-

Limerick  Co. Co.

128

71

-

9

Longford  Co. Co.

31

3

-

Mayo  Co. Co.

66

58

-

Meath Co. Co.

215

37

12

11

Monaghan  Co. Co.

42

42

42

North Tipperary Co. Co.

13

 

Offaly Co. Co.

79

55

51

Roscommon Co. Co.

91

 

Sligo  Co. Co.

46

16

 

South Dublin Co. Co.

568

50

8

40

South Tipperary Co. Co.

34

13

 

Waterford City

7

7

 

Waterford Co. Co.

65

39

46

Westmeath Co. Co.

64

47

12

8

Wexford  Co. Co.

152

104

81

2

Wicklow Co. Co.

36

7

7

Grand Total

5,237

2,004

772

695