NAMA Social Housing Provision

Dáil Éireann Debate, Tuesday - 11 December 2018

Tuesday, 11 December 2018

Ceisteanna (138)

Róisín Shortall

Ceist:

138. Deputy Róisín Shortall asked the Minister for Finance the number of properties that have been transferred to the National Asset Residential Property Service, NARPS, since 2014 by year and dwelling type, that is, apartments, houses and so on in relation to property sales in County Dublin, that is, in the four Dublin local authority areas; the number of estate homes and apartments completed by NAMA since 2014, including Q1 and Q2 of 2018, by year; and the number of new units that have been completed by NAMA that remain unsold. [51707/18]

Freagraí scríofa

Minister for Finance

As regards the first part of the Deputy’s question, I am advised that NARPS (National Asset Residential Property Services D.A.C.) was established by NAMA in 2012 in order to expedite the provision of much needed social housing. NARPS operates by purchasing properties from its debtors and receivers, at full market value, and making them available to Local Authorities or Approved Housing Bodies by way of a standardised long term lease. Since its establishment, NARPS has completed the purchase of 587 units located in Co. Dublin from NAMA debtors and receivers. The breakdown of these units by year, Local Authority and unit type is shown in Table 1.

 Table 1:

NARPS Completed Purchases (Dublin Only)

Year	Dublin	DCC	Fingal	DLRD	SDCC	Apartments/   Duplexes	Houses
2013	20	-	20	-	-	19	1
2014	133	133	-	-	-	133	-
2015	198	133	-	-	65	198	-
2016	84	6	30	30	18	54	30
2017	147	-	15	132	-	132	15
2018	5*	-	-	-	5		5
	587	272	65	162	88	536	51

* a further 18 units are scheduled to complete prior to end-2018.

 As regards the second part of the Deputy’s question, I wish to point out that NAMA does not itself develop new residential units. Rather, subject to commercial viability, NAMA provides funding to its debtors and receivers to enable them to construct residential properties on sites which they control and which are secured to NAMA. The number of new residential units delivered through NAMA funding since 2014 in the whole of Ireland is set out in Table 2.

 

Table 2:

Year	Units	Houses	Apartments
2014	1,502	514	988
2015	1,029	825	204
2016	2,117	1405	712
2017	2,503	1,764	739
2018   (Q1-Q3)	862	640	222
Total	8,013	5,148	2,865

I am advised that 9% (306) of all units which have been launched for sale are currently unsold. This equates to about six unsold units per active development. The figure for unsold units includes show houses that are held back for marketing purposes and units that were launched to the market only recently but which are expected to be sold in due course.