69 apartments in Dublin to be bought by a UK based investment funds as they are close in signing the deal with the National Assets Management Agency (NAMA). The agreement had reached the principle for sale of the apartments at Casino development in Malahide to Sea Point Capital.
Private buyers have already bought 34 apartments in the area with an average selling price of €433,000. NAMA had decided to sell the remaining properties bulkily. Sea Point is considered the most preferred bidder.
The cabinet hasn’t heard proposals on blocking investment funds from buying properties bulkily yet. Thus this deal is planned soon and trying to execute well. The proposals adds pressure on the government to take action amidst the reports of entire developments of family homes.