Ruth Coppinger (Dublin West, Socialist Party)
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191. To ask the Minister for Finance the number of complete and incomplete houses and apartments in the National Asset Management Agency’s portfolio; the amount of each that have been made available for social housing; and if he wil provide a breakdown of the number of these that have been and are being made available directly to local authorities, or to approved housing bodies; and if he will provide a breakdown of the approved housing bodies concerned. [33042/14]

Michael Noonan (Limerick City, Fine Gael)
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NAMA acquired a loan portfolio which was secured, among other assets, by some 14,000 completed residential units. I am advised by NAMA that it has identified 5,445 houses and apartments as being available, through its debtors and receivers, for social housing.  Through a process agreed with the Minister for the Environment, Community and Local Government and the Minister for Housing and Planning, NAMA provided the Housing Agency with a list of the 5,445 properties and continues to update that list as additional, potentially suitable, properties become available.  Local authorities, in turn, confirm through the Housing Agency whether or not they have a demand for any given property that NAMA has made available.

Through this process, local authorities have confirmed demand for 2,077 of the 5,445 properties made available by NAMA.  Over 700 of these properties have been delivered to date and NAMA expects that it will exceed its target of delivering a total of 1,000 properties for social housing by end-2014.  NAMA advises that the remaining properties for which demand has been confirmed will be delivered over the following period.  Further detail on this initiative is available on the Housing Agency's website, and in the NAMA Annual Report and Financial Statements for 2013, which is available on the NAMA website, .

NAMA's exposure to completed residential property in Ireland is limited.  In total, including the 5,445 properties made available for social housing, there are currently about 15,000 residential units within the Agency's portfolio.  These properties have either been made available for social housing as outlined above or are currently let in the private rented market or are for sale.  In all these instances, the properties are contributing to meeting current housing needs.  As new housing is completed, it is immediately brought to the market by NAMA.  NAMA advises that it does not withhold completed housing stock from sale or rental.