Ghost estates may be bulldozed says NAMA

Abandoned estates may be demolished

DAVY MITCHELL,

Published Saturday, June 25, 2011, 10:39 AM

Updated Saturday, June 25, 2011, 10:39 AM

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The ghost estates - housing developments that were abandoned when the Irish property boom hit the skids - are being targeted by foreign banks who are considering demolishing them and turning them back into greenfield sites.

Brendan McDonagh, the head of Ireland's National Asset Managment Agency (NAMA), told the Irish Independent that just as his agency was considering returning land purchased for property development back into its original agricultural state, some foreign owned banks Ulster Bank were also looking at similar solutions.

McDonagh added that the ideal solution would be to have people live in the ghost estates, but where that was impractical and the estate was predominantly unoccupied then levelling it could be the best option.

"Unfortunately, some of these ghost estates are in places they shouldn't have been built in, in the first place and demand isn't there," McDonagh said.

Nster.com

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Cranleigh | Jun 26, 2011, 11:17 PM EDT

This may make sense but...am I paranoid or are they are still trying to keep the silly prices of the Celtic Bubble going by cutting supply down? Has NAMA tried to sell these unfinished houses at ANY price? At Detroit prices? If so, I've seen no sign of it yet.

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mountainyetti | Jun 26, 2011, 05:53 PM EDT

I assume they have toilets & sinks, sewers, electricity and heating? There are windows and doors, too? Gadds! Think of those without that. If we could but pair them up at a helpful price. Shirley that can't be more money to the builders than a total write-off. Know someone that would go? Maybe jobs could be developed in the areas wanting such. The Irish have their dreams too! Some just need more helpful prices, as we all do.

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Trealach | Jun 26, 2011, 01:17 PM EDT

The idea of demolishing them is incredibly stupid when they can be put to so many uses, including 'social housing'. If the tax-payer is already going to pay for these, then use them for small indigenous office based businesses. The much talked about 'smart' businesses don't need factory sized premises. Rent them at affordable prices for 'start-up' businesses with a maximum 5 year term limit. Whatever use they can be put to, there is certainly no deed to demolish them.

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mamaginnty | Jun 25, 2011, 06:17 PM EDT

Woundedknee, I hope you never have to apply for social welfare. No ...I hope you do have to apply some day, You ignorant bigoted fool. As for Nama, they will sow grass then sell them as building sites again, backwards in all sense of the word.

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LoyalCitizen | Jun 25, 2011, 05:45 PM EDT

Easy money to stupid developers. They could not organise a piss up in a brewery.

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BARNEYKX | Jun 25, 2011, 04:56 PM EDT

Anything would be better than dozing them,they could be raffled or give people a chance to buy at a very reasonable price and assist them to complete roads sewers etc

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WoundedKnee | Jun 25, 2011, 03:31 PM EDT

Social list? So that instead of a ghost estate it becomes a slum? I don't think so.

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Daverogk | Jun 25, 2011, 11:28 AM EDT

Wouldn't it be more prudent to complete and house people on the social list

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