Results 1-20 of 296 for nama speaker:Richard Boyd Barrett

Select Committee on Housing, Planning and Local Government: Planning and Development Bill 2023: Committee Stage (Resumed) (17 Apr 2024)

Richard Boyd Barrett: ...the market now for €500,000 at the very lowest but people are more likely to be looking at €600,000 or €700,000 for what is being sold there. Bear in mind that at one point all that site was in the hands of NAMA, that is, the State. It was sold, probably at an enormous discount, to Hynes, a wealth asset management company. Mel Reynolds told me at one point that he...

Ceisteanna - Questions: Taoiseach's Meetings and Engagements (14 Feb 2024)

Richard Boyd Barrett: ...residential development in the country, the Cherrywood development in my own area, is owned by Hines, although it has flipped some of the property and made a lot of profit. It got the land from NAMA at a discount but very modest houses there are going for between €600,000 and €700,000 and rents are running at €2,500 to €3,000 a month. This is totally...

Housing and Homeless Prevention: Motion (Resumed) [Private Members] (23 Jan 2024)

Richard Boyd Barrett: ...could do it but the Government has failed to do so. The vulture funds issue, which has been focused on recently, is a substantial part of the reason for all of this. The decision to unload all of NAMA's property assets into the hands of investment funds, give them massive tax breaks and give them control of the land bank and all the new development has been a disaster. It has not...

Investment Funds Trading in the Residential Property Market: Motion [Private Members] (17 Jan 2024)

Richard Boyd Barrett: ...how beaten up people's psyches get". Then they sat down with Michael Noonan and he said they would not have to pay any tax on capital gains or their rent roll and that they could buy up all the property that NAMA had for nothing, then we ended up with the rents of €3,000 a month. It is absolutely disgusting. The average house price in Dublin now is €430,000. In my area,...

Planning and Development Bill 2023: Second Stage (30 Nov 2023)

Richard Boyd Barrett: ...it was not profitable for them to build housing and the Government compounded that decision by stopping building public housing for a decade. Even worse, when it has all the land banks briefly in its hands with NAMA, what does it do? Does it build public and affordable housing? Does it move away from the developer-led system? No, it flogs it all back to a new gang of speculators, or,...

Home Ownership: Motion [Private Members] (31 May 2023)

Richard Boyd Barrett: ...Some 8,000 homes are in the process of being built, very slowly it has to be said, by the big investors who bought the land from the State for a song because of the disastrous decision to mandate NAMA to flog a massive property portfolio worth €40 billion, of which Cherrywood was one of the major assets, at discount prices to international investors. Look what the net result is....

Confidence in Government: Motion (29 Mar 2023)

Richard Boyd Barrett: ...is quite simple. It was due to the decision to stop building local authority housing and outsource it to private landlords and the simultaneous decision to set up the National Asset Management Agency, NAMA, and nationalise all the building land and sell it off - €40 billion worth of it - to vulture and cuckoo funds that are now charging extortionate rents and making a fortune from...

Defects in Apartments - Working Group to Examine Defects in Housing Report: Statements (15 Dec 2022)

Richard Boyd Barrett: ...step of the way and are still not being given the support and full redress they deserve. One very specific example is the Carrickmines Green apartments. There are 235 apartments in that complex. NAMA took it over and the receiver acting on behalf of NAMA was informed by the residents of the fire defects. They pleaded with the receiver to remediate them. Eventually, under pressure,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Richard Boyd Barrett: ...the provision of social housing to these entities. That was the thinking. We were not to build our own social housing but get these professional investors in who would take control of the NAMA portfolio, build all these apartments and lease them back to the State to create a professional rental sector which would replace the old-fashioned construction of social housing with HAP, RAS and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Richard Boyd Barrett: ...possibly more, because many of the residential developments - estates or multiunit complexes - that are likely to be or known to be affected by these building defects may have been handed over to NAMA, which is a creature of the Department of Finance. Carrickmines Green is one such example of that. Indeed I have submitted questions to the Minister on it and I have raised the issue in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Richard Boyd Barrett: I have never accepted the argument about the independence of NAMA. The mandate of NAMA was set by Government and by legislation and Government can change that mandate. On other matters, I long thought it should change that mandate but this issue is a very big one and everybody acknowledges that. It is not certain precisely how we would go about giving redress to people; it could be through...

Residential Tenancies (Deferment of Termination Dates of Certain Tenancies) Bill 2022: Second Stage (26 Oct 2022)

Richard Boyd Barrett: ...the rest will be rented or sold at prices that ordinary working people could not possibly afford. Why do we allow that to happen? Most of the developments in question are on sites that were previously in the ownership of NAMA and that the developers bought from that agency at a major discount. Often they make massive capital gains out of selling these properties. They do not even pay...

Finance Bill 2022: Second Stage (25 Oct 2022)

Richard Boyd Barrett: ...but not well enough, it seems, because he now wants to cash in on the increased value of property. As property prices go through the roof, is there a windfall tax, that is, an increased capital gains tax, for all those who bought property from the National Asset Management Agency, NAMA, at the bottom of the market, the sorts of people who are trying to cash in on the extortionate value of...

Ceisteanna - Questions: Economic Policy (18 Oct 2022)

Richard Boyd Barrett: ...are coming on stream so that we can get more than 10% for social and affordable housing as well as purchase sites, which should never have been sold off by the National Asset Management Agency, NAMA, for the delivery of social and affordable housing, given that the Government's Housing for All targets are failing catastrophically. Will the protections for tenants generally apply to those...

Written Answers — Department of Finance: Defective Building Materials (18 Oct 2022)

Richard Boyd Barrett: 262. To ask the Minister for Finance if he will instruct NAMA to urgently pay for the remediation costs of the building defects leading to fire safety and water ingress issues at a location (details supplied); if he will ask NAMA for an explanation as to the reason that it has not done this to date when receivers controlled by NAMA in the neighbouring estate reportedly carried out similar...

An tOrd Gnó - Order of Business (11 Oct 2022)

Richard Boyd Barrett: ...issues, water ingress and so on. There is one particular case that I would like the Taoiseach to look into, namely, that relating to Carrickmines Green. The National Asset Management Agency, NAMA, is control of that estate and is refusing to remedy building defects, even though it has done so elsewhere. I am told by residents that NAMA has sold units to people who do not know that there...

Short-term Lettings Enforcement Bill 2022: Second Stage [Private Members] (24 May 2022)

Richard Boyd Barrett: ...The State put in the Luas. The site is off the N11 and millions of euro have been spent on infrastructure. For a brief period, the development was in public hands, in the National Asset Management Agency, NAMA, but we flogged it off to developers and speculators. Finally, more than a decade later, housing is starting to appear there. There are apartments and so on. An outfit that was...

Subsidies for Developers: Motion [Private Members] (18 May 2022)

Richard Boyd Barrett: ...are 8,000 housing units which, if they were affordable, would probably go a long a way to solving the housing crisis. Although I agree with the points they have made, I must say to our Labour colleagues that part of the responsibility lies at their door. I recall that when the decisions were being made to sell off what was NAMA land to private developers, I, Deputy Paul Murphy and others...

Ceisteanna - Questions: Commissions of Investigation (5 Apr 2022)

Richard Boyd Barrett: ...and commissions of investigation we have had, how long they went on for and how much they cost, they are quite telling about the history of this country. A commission of investigation into NAMA related to the housing crisis and what developers did to this country; a commission of investigation into the IBRC, a dodgy bank that lent money to developers who helped to wreck the economy;...

Finance Bill 2021: Report Stage (Resumed) and Final Stage (2 Dec 2021)

Richard Boyd Barrett: ...Finance and these investor funds, where they no doubt became acquainted with the tax breaks that were available if they invested in the Irish property sector. They moved in at scale and bought up NAMA's portfolio, which was the biggest property portfolio in the world at the time and was in public hands. NAMA had cash sales of approximately €40 billion but the actual value of that...