Dáil Éireann Debate, Tuesday - 18 April 2023
701. Deputy Peadar Tóibín asked the Minister for Housing, Local Government and Heritage how many housing units were supplied to the State in the past ten years through NARPS; the average length of each of these tenancies; the average cost to the State for the rental of each of these units; and if there are any agreements with NARPS for extension of leases in the future on these properties. [16319/23]
View answerIn 2013, the National Asset Management Agency (NAMA) established a special purpose vehicle, National Asset Residential Property Services Limited (NARPS), to take direct ownership of properties, where there was an established demand for social housing, and lease those properties on a long-term basis to an approved housing body (AHB) or local authority.
NAMA funded the remediation of the common areas and the completion of unfinished units, which were often the last remaining incomplete and vacant units in estates. When the units were complete, NARPS purchased the finished properties and leased them immediately to an AHB or local authority. Information in relation to the number of leases, broken down by AHB and local authority, is available on the NAMA website at the following link:
www.nama.ie/our-work/social-initiatives/social-housing
All NARPS leases are 20 years and 9 months in duration. At end 2022, the average cost of a NARPS property supported under the Social Housing Current Expenditure Programme (SHCEP) was €11,683 per annum. To date, there have been no extensions granted by my Department on any of the existing NARPS leases.
