Madam, – I worked as a chartered valuation surveyor in the 1970s. During that period, property valuations were conservative. The agreed price for a property did not necessarily agree with that of the valuation by the surveyor.
Not so in recent times. It appears that over the past 10 or 15 years, the so-called “property professionals” signed off on major property deals which have no basis in reality. How could property prices in Dublin be higher than those in Paris or similar-sized English cities?
I presume that in all cases, loans were advanced on the basis of independent valuations prepared by valuers. It would appear that these “property professionals” are as culpable as the lending institutions that advanced the loans. It now appears that the same “professionals” are advising the Government in relation to future values and potential growth in the Irish property market. God help us. Surely it is time for a reality check? – Yours, etc,
Madam, – If Nama is stuck with land that will now not be developed, why not rotovate it, fence it off and convert it to allotments and allow the lowly taxpayers to grow their own veg to feed their families. – Yours, etc,