NAMA and Central bank to devise new property price database
NAMA and the Central Bank are to co-fund the development of a commercial property statistical system, which will detail prices and give a database of sales and lease transactions, NAMA said today.
It will be maintained by the Central Statistics Office (CSO) but won't be up and running until 2018.
In its end-year progress summary, published this afternoon, the agency said the Commercial Property Statistical System (CPSS) will provide “comprehensive, authoritative and independent data on the commercial real estate (CRE) sector in Ireland.”
The system will provide a database of sales transactions and of lease transactions and a commercial building register which, it is expected, will be supplemented by data on permissions, commencements and completions.
NAMA also said that it had generated €9.1bn in cash during 2015, with €8.5bn in loan and assets sales, and €5.5bn in senior bond redemptions.
It also claimed that more than 2,300 new homes had been funded by NAMA up to the end of 2015.