Wednesday, June 8, 2011
Free government properdee subsidy
Ireland is considering desperate measures to revive what remains of the countryâ€™s real estate industry. The National Asset Management Agency, set up by the government 18 months ago to acquire risky assets, is trying to lure buyers back into one of the regionâ€™s worst-performing property markets. Irish house prices have fallen every month since December 2007. NAMA holds â‚¬70bn of risky property loans. One option would be for NAMA to ask the buyer for 80 percent of the purchase price at the time of the transaction and only collect the remaining 20 percent if the market value remained the same or increased by a certain amount.