Nama holding back property recovery, says solicitor

A Cork solicitor has claimed that the National Asset Management Agency (Nama) is delaying recovery in the property sector by seeking unrealistically high prices for properties it is selling.

2nd July, 2011

A Cork solicitor has claimed that the National Asset Management Agency (Nama) is delaying recovery in the property sector by seeking unrealistically high prices for properties it is selling.

Niall Murphy, a solicitor in Ballincollig, has been acting for a young couple who paid a booking deposit on a house in Cork in February last year. The house was valued at €260,000.

The property had not been built at that stage, so they signed contracts...

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