Nama should end up paying at least €5.5 billion less for the loans it takes on than it plans to do, based on the latest commercial property index produced by Jones Lang LaSalle.
Last week, the quarterly index by the firm, chaired until recently by Nama adviser John Mulcahy, found that commercial property prices had fallen by 53 per cent from their 2007 peak by the end of September. And they were falling further.
Take Nama’s estimate...
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