Approval given for NAMA estate to be bought for social housing

Approval given for NAMA estate to be bought for social housing

Approval has been given for the first NAMA-assigned unfinished housing estate to be bought for social housing.

Fifty-five houses, 36 of them unfinished, at Oakley Wood in the town of Tullow, Co Carlow, will be bought by the voluntary housing agency Respond for €2.5 million – an average of €45,450 a unit. However, the final overall cost will not be known until the houses are finished.

Respond’s chief operating officer Ned Brennan said it received approval on Wednesday to buy the houses, which include 10 four-bedroom, 37 three-bedroom and eight two-bedroom units.

Read more in today’s Irish Times.

There is 1 comment for this article
  1. Paddy at 5:19 pm

    €45k per unit plus the rest to finish the job. The price appears to be on the high side. The property should be put up for auction to ensure the taxpayer pays only true market price and not a price inflated by NAMA.

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