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Dublin - Ireland's state-run bad bank said its property holdings would allow it to deliver up to 50% of Dublin's housing demand over the next five years and ease concerns that lack of the supply could put prices on an unsustainable path.
House prices in Dublin surged 22% in the year to May, their fastest appreciation since the late 2006 peak of the country's ill-fated property boom, prompting the Central Bank to warn that shortages had to be tackled.
The National Asset Management Agency (Nama), which is one of the world's largest property groups, said it could deliver between 40 - and 50% of the estimated 8 000 to 10 000 new houses and apartments needed in Dublin annually.
Nama chairperson Frank Daly said: "Nama, given its public remit, has no intention of hoarding development land.
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"Instead, if there is an identified need for housing in the Dublin area - and there clearly is - we're not in the business of sitting on development land assets until their value appreciates as the supply shortage becomes more acute."
Daly said Nama had 3 000 "shovel ready" units, half of which are already under construction and could deliver a further 19 000 new units in the short term on sites in its portfolio that have the potential for development.
