Govt looking at bigger NAMA role in tackling housing crisis

Ministers are to examine further measures to ease the housing crisis following a meeting of the Cabinet sub-committee on social affairs today.

One of the measures being considered is a greater role for NAMA in the construction of houses.

A number of initiatives have already been put in place, but Central Bank guidelines which curb property demand also curb the incentive for the construction sector to build more houses.

Today’s meeting was chaired by Taoiseach Enda Kenny with Minister for Finance Michael Noonan and Minister for the Environment Alan Kelly both in attendance.

A number of issues affecting the housing market were discussed and Mr Noonan and Mr Kelly have been asked to come up with a short-term plan to boost the sector.

It is believed one proposal would see NAMA, which is already a prominent player in the housing market in Dublin, taking on an even more active role.

There has already been discussion about how to limit rent increases and one proposal on the table is to provide so called certainty by linking rents to the Consumer Price Index rather than the market rate.

Source : RTE 21/09/2015