Skip to main content

Web Jam For NAMA Properties...

Web jam as 10,000 download list of NAMA properties...

NAMA'S list of property for sale was downloaded by 10,000 people in just a day and a half as bargain hunters scoured the list for cheap deals.

A spokesman for toxic debt agency NAMA revealed last night that it was forced to make emergency changes to its website in order to cope with the unprecedented web traffic.

It came after NAMA made a list of 850 properties it is selling through receivers available for the first time.

The list features property in 25 of the 26 counties as well as Northern Ireland and the UK.

The assets listed include everything from car park spaces and bedsits, through to family homes and significant commercial and industrial assets.

NAMA is not directly selling any of the property but its 150 staff have been inundated with enquiries since the list went live, sources at the agency said.

NAMA is now looking at ways to make the property list easier for the public to access.

It also intends to update the online list on a monthly basis -- a sure sign the agency expects to appoint a steady stream of receivers to assets held by more of the 850 people that owe money to the agency.

If NAMA does update the property list every month it will give a unique insight into where demand for Irish property assets really lie in the current market.

Monitoring which properties come off the list every month will show whether it is family homes, commercial premises or farmland that are selling fastest.

Report by Donal O'Donovan - Irish Independent

Popular posts from this blog

More Allsop Fire Sales...

Allsop plans five fire sales a year... THE UK auction house Allsop and its Irish affiliate Space plans to hold up to five distressed property auctions a year following the success of its first auction last Friday when 81 out of 82 lots were sold for a total of €15 million. The next auction is scheduled for July 7th, when 200 lots will be auctioned, including apartments, tenanted shops, farms and houses. According to Space director Stephen McCarthy, his company is being inundated with requests from receivers, banks and individuals who want to sell their property fast. Many of the properties in Friday’s auction were sold by Bank of Scotland Ireland and it’s believe there is plenty more of this stock to sell. These include apartments in the Castleforbes development in the Dublin docklands, as well as units in Dublin 8 and in Castleknock. However, the agency is also considering taking on more agricultural land. One lot, a 55 acre farm in Co Wickow sold particularly well, making €42...

As Featured On Dublin Postcards, Ad's, U2 Video...

I see in the Irish Independent today an item concerning a favourite, Dublin landmark, of mine... "THEY have featured in numerous postcards and a very famous Guinness ad, but perhaps their most important cameo appearance came when they featured in U2s 'Pride (In The Name Of Love)' video. However, Dublin City Council does not believe the Poolbeg chimneys are iconic enough to place on their Record of Protected Structures. Following a request from Cllr Dermot Lacey (Lab) to have the landmark ESB chimneys placed on the protected record, city councillors heard that city planners had conducted a survey, history and full assessment of the chimneys. They concluded from this that while the Poolbeg chimneys were considered to be of a certain level of architectural, social and historical significance, they were not of sufficient value within the meaning of the Planning and Development Act, 2000. Complex The twin red and white chimney stacks measure 680 feet in height and were construc...

Property Ireland - Irish Land Values Go Up Like A Rocket & Fall Like A Stone...

Land values go up like a rocket and fall like a stone... SITE EVALUATION: Why would a developer bid €225,000 an acre in 1999 and €2.8m an acre in 2007? Bill Nowlan explains WHY HAS THE value of development land fallen so precipitously, by over 50 per cent in the past 12 months, when residential and other property values have only fallen by 25 per cent or 30 per cent? There is an old property cliché which says that "land values go up like a rocket and fall like a stone" and this seems to have been bourne out in Ireland over recent years. Why does this happen? To answer this question requires an insight into the way developers prepare their bids for development land and I set out below a glimpse into that process. Let me start by looking at how a developer in normal times estimates his bid for a plot of land with planning permission, which in estate agents' parlance is ready-to-go. The key starting point in a developers equations is the expected sale price of the finished b...