NAMA has just 11 ghost estates left on its books, down from 332 in 2010.
The agency confirmed in its annual report that since 2011 it has sold land with space to build 50,000 homes.
However just over 3,000 have been developed in that space.
Minister Michael Noonan said NAMA has played a big role in turning around the housing sector.
"It was the sector that was most damaged of all the sectors in the economy and it was the sector that's hardest to repair but it is well on the way to being repaired now and I would like to thank NAMA for the job they have done," he said.
"Not in fulfuilling the specific mandate they were given but in restoring a very important sector in our economy to the point where now we can see it being fully restored again."