Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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14. To ask the Minister for Environment, Community and Local Government further to Parliamentary Question Number 731 of 6 October 2015, the status of the 1,400 homes to be transferred from the National Asset Management Agency to local authorities, if the full 2,501 homes have been purchased and at what prices, or leased, what is the monthly payment for these leasing arrangements for each home; and if he will make a statement on the matter. [44131/15]

Paudie Coffey (Waterford, Fine Gael)
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The figures referred to by the Deputy relate to the position at the end of June. The latest figures represent progress to the end of September 2015 , at which point a total of 1,600 NAMA related residential properties have been delivered for social housing use . This comprises of 1,241 completed properties and a further 359 that have been contracted and where completion work is on-going. A further 486 properties are considered as being active transactions whereby terms are agreed or active negotiation is on-going by all parties concerned or where a detailed appraisal is being carried out. An additional 440 properties are to be further appraised. Overall, I expect that in excess of 2,000 units for social housing purposes will be secured from this engagement with NAMA.

NAMA sourced units are brought into social housing use through existing delivery mechanisms including the Social Housing Investment Programme, the Capital Acquisition Scheme and the Social Housing Current Expenditure Programme (SHCEP). At the end of September 2015, 858 or 48% of the social housing units delivered by NAMA were by way of long term leasing funded by the SHCEP. I expect by year end, this will be well in excess of 50%. The current average monthly cost of operational NAMA units leased by Approved Housing Bodies or local authorities, and funded by SHCEP, is €770 per unit per month. Monthly leasing arrangements under the SHCEP achieve significant discounts on market rents and are subject to regular rent reviews. In the case of NAMA related properties, average discounts achieved are in the region of 17% for houses and 12% for apartments. In addition, under these arrangements, rents are fixed for the first six years.

In the case of properties purchased, my Department does not distinguish the financing of NAMA sourced units from other sources of social housing supply. In every case, prices paid are determined by the independently determined market value.