Daft Property - Irish Property News

Celtic Tiger developers trying to scam Nama – Taoiseach Taoiseach Enda Kenny has declared concerns that developers could be buying back assets seized by Nama at knockdown prices. Mr Kenny said he had some indications that boom-time speculators who could not repay massive loans - now tied to the taxpayer - were attempting to repurchase their properties at their current prices. Just over a week ago, the state toxic assets agency dismissed allegations repeated by a Fianna Fail senator about the practice. Mark Daly had claimed the taxpayer was picking up the bill, running into hundreds of thousands of euro, for the plunging loan values while those who borrowed the money regained their properties at a fraction of the original price. Speaking at the British Irish Parliamentary Assembly in Cork, Mr Kenny signalled his intention to meet finance minister Michael Noonan about the issue. "I have had some indications of attempts to acquire property that was taken from developers thr...

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 ...