THE NATIONAL Asset Management Agency plans to seek tenants for some of its 8,000 apartments with a view to selling them as blocks to investors to help shift properties stuck on its books.
Brendan McDonagh, chief executive of Nama, said that most of the apartments were in Dublin. The apartment rental scheme is aimed at investment companies that manage rented apartment blocks, particularly in the UK.
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At its worst there were just under 9000 properties to rent in Dublin,this glut caused rents to drop by 30% plus.
This dumping of these 8000 apts will have the same effect as a daisycutter bomb on the rental market in Dublin and will almost certainly mean financial ruin for a hell of a lot of private landlords...