Homebuilders express concern about NAMA bill

The Irish Homebuilders Association has expressed concerns about the draft legislation to establish the National Assets Management Agency (NAMA).

The association says the agency could have serious implications for the future of the property sector.

It says the draft legislation gives NAMA such extensive powers that individual rights may be seriously impeded.

It also says the bill should include interim measures to make credit available to businesses in the period between now and when NAMA begins to have an affect.