Nama may help back construction of new Dublin housing, says Noonan

Nama could help get small builders back constructing houses in Dublin, according to Finance Minister Michael Noonan, who said he had spoken about this to the country’s bad bank.

There was hardly any market in Dublin and prices were quite high because the market was so limited with a poor supply, Mr Noonan said, adding that there were not a great many options about what could be done about this, as restarting construction required that confidence return to the market and that credit was available.

He said he would like if Nama could assist with getting small builders back into construction, building in in-fill sites in Dublin for instance, but, he added Nama was just one player and more was needed.