According to Noel Smyth, formerly of Dunloe Ewart and current head of Alburn Management, Nama will be paying between €150,000 and €200,000 each for 20,000 homes and apartments in Dublin alone (Irish Times, Dec 8th).

We would love to know where they are; in other words, what is Nama’s Dublin geography? How many of the Nama’d properties are in and around the Docklands, in Tallaght, Cherrywood, Ballymun, or Ballsbridge? What impact will their location have on decisions by Dublin City Council or its satellite councils?

And just what will Nama do with them? Smyth says they should be rented out at about €700 to €800 a month. But isn’t that too high? Smyth’s idea begs the question: just how low should rents go in Dublin after Nama?

Alistair Fraser

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