Daft Property - Irish Property News

The great property scam is back to rip us off again... They're back! The creeps, the snake-oil salesmen and spoofers who condemned a generation to negative equity are cheerleading again. The advertisers are salivating too because the "property porn" industry sees a chance to sell its fantasy again. The papers are once more displaying "dream homes" replete with doctored photographs and Mediterranean blue skies -- all at "knock down" prices. It's time to buy again, or so I'm reliably told by those who were so reliable last time that they gave us NAMA! I am not saying that property won't recover ever, of course it will; but not from here. Irish property is still extortionately expensive. It is expensive not just on a comparative basis but, more crucially, it is expensive on the basis of what is happening in the economy. Any government that is urging people to buy houses right now clearly has no intention of learning anything from the mistakes

NAMA board get pay increase of up to 70pc... National Assets Management Agency (NAMA) board members have received a hike in salary -- despite being less than three months in the job. Finance Minister Brian Lenihan yesterday confirmed he had approved a new fee structure for the nine-strong board in light of their increased workload. The board's chair, former Revenue Commissioner boss Frank Daly, will receive €170,000, a 70pc increase on his original pay packet of €100,000. And the team of ordinary members will receive an annual fee of €50,000, rather than the €38,000 first proposed. The board, which comprises of six ordinary members, two ex-officio members and one chairperson, were appointed by Mr Lenihan in December They have responsibility for shaping NAMA and will decide the future of developers, ranging from household names to small-time developers. Besides Mr Daly, the ordinary members of NAMA's board are former AIG official Eilish Finan, former Bank of Ireland board member