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Written Answers - National Asset Management Agency

Tuesday, 7 February 2012

Dáil Éireann Debate
Vol. 754 No. 3

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 128.  Deputy Thomas P. Broughan Information on Thomas P. Broughan Zoom on Thomas P. Broughan  asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan  if it is intended to re-price the houses in the portfolio of developers with NAMA loans to make them more affordable in 2012 for young and first-time buyers; and if he will make a statement on the matter. [6484/12]

Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan Zoom on Michael Noonan I am informed that NAMA approves the sale of assets, including houses and apartments by debtors or receivers acting on its behalf, at the current market rate for such properties. Properties under the control of receivers or other insolvency professionals appointed by NAMA are listed on its website at Potential purchasers are encouraged to contact the receivers to obtain additional information on specific properties and to submit expressions of interest if they wish to make a purchase. I understand that in cases where NAMA receives inquiries from potential purchasers about specific properties under the control of debtors, it can facilitate contact with debtors or receivers with a view to enabling sales transactions to take place.

Under the National Asset Management Act, 2009, NAMA has a commercial mandate. Given this commercial mandate, the Agency would not be in a position to change the prices of domestic properties for specific categories of purchasers.

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