If you would like to submit a contribution to our Readers Blog section then follow this link. Be sure to include your full name, address and contact number otherwise your submission will not be considered for publication. We will contact you prior to publication.

NAMA should be wary of asset values abroad

THE European Central Bank rightly urges careful consideration by NAMA when valuing developers’ assets. However there is one area where particular care needs to be taken and where the valuation expertise of the estate agency sector may not be appropriate.

There is anecdotal evidence that many Irish developers hold substantial assets in overseas markets like Bulgaria and Dubai. In the case of Bulgaria in particular, these assets may appear to be performing well and producing rental returns.

The reality however is that in many cases these “rents” have been achieved by increasing the purchase price, so that investors are simply getting back their own money for the duration of the guaranteed rental period.

A mere book valuation of these assets will show them as having substantial value, whereas the true picture might place their real value close to zero.

NAMA needs to tread very carefully when valuing overseas assets, for all our sakes.

John Mulligan



Co Roscommon


In a new daily feature, Arts editor Des O'Driscoll lists the best things on the box for the evening aheadWednesday's TV Highlights: Veg-growing tips, and a gripping kidnap drama feature among today's best

Dr Gero Baiarda dispels the biggest misconceptions.10 coronavirus myths tackled by a GP

Indulging in a little comfort eating lately? Worry not – with Easter just around the corner Maresa Fagan looks at how chocolate can be good for your heart, head, and healthFive genuine health reasons to enjoy chocolate this Easter weekend

Currently digging your garden up? You’ve got the ‘grow your own’ bug.11 things you’ll know if you’ve suddenly become obsessed with growing your own

More From The Irish Examiner