€75,000 to quit estate sold to charity by Nama

A proposal to increase the compensation to homeowners after Nama sold the majority of their estate for social housing has been shot down by the Department of the Environment.

€75,000 to quit  estate sold to charity by Nama

Residents of the Oakley Wood estate in Tullow, Co Carlow, have been told there will be no increase to a €75,000 buyout offer tabled by Respond, a voluntary housing association, if they wish to move.

Respond recently spent €2.5m to buy 55 homes in the estate from Nama, with funding from the department, valuing each house at just over €45,000. It is a pilot scheme that will be used for 47 other unfinished estates across the country.

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