Daft Property - Irish Property News

At last! A plan to kick-start property... Nama's €1bn 'financial muscle' to get sales moving and help balance books. Frank Daly, the chairman of Nama, which has €1bn at its disposal, has said that the State agency intends to use its "financial muscle" to "kickstart the property market". Yesterday, Mr Daly told the Sunday Independent that the provision of "limited financial support" for the purchase of property was a "natural next step" for Nama. He said: "What we're aiming to do is build market confidence at sustainable levels -- to use Nama's financial muscle to kickstart the property market in a way that will benefit the project itself and provide people with an opportunity to own their own home." The disclosure that Nama has up to €1bn to directly intervene in the moribund market comes after an auction of property in Dublin on Friday which has generated a huge level of excitement. A total of €15m was s...