Nama boss warns public against getting ‘carried away’ as market picks up

The chairman of the agency tasked with clearing the bad debt amassed by Ireland’s property developers has warned people against getting “carried away” just because the market is showing signs of recovery.

Frank Daly, chairman of the National Asset Management Agency (Nama), said he was unnerved last week when he heard a group of men talking about the time being ripe to get back into the property market.

“I was in company having a few pints and I heard fellas talking about how it’s ‘time to get back into property again, it’s time to invest, there’s good deals out there’. That frightens me a little. I just wonder sometimes do we learn anything at all?”