Nama says construction inflation ‘a real challenge’ in plan to deliver 1,800 homes by 2025

Agency’s chief executive says 600 homes will be completed this year despite the increase in costs for building materials

Brendan McDonagh, chief executive of Nama: ‘While interest rates will rise, they are rising at quite low levels.’ Picture: Bryan Meade

Construction inflation is “a real challenge” for the National Asset Management Agency (Nama) as it aims to deliver an additional 1,800 homes between now and 2025.

Brendan McDonagh, chief executive of the state’s ‘bad bank’, said the homes will be built if it is commercially viable to do so.

“[Inflation] is a real challenge. We are in the market with everybody else - the price of construction materials has risen substantially since 2019, but this ...