These very nice apartments in the Dublin commuter belt (Newbridge, on motorway, railway) are down by 66% from peak. NAMA’s chief valuer wants to pay 50% of peak for everything (€47 Bn plus an LTEV). This would include development land which has fallen 70-80% in Dublin per Judge Kelly. If as NAMA supporters tell us the Dublin area is less oversupplied then NAMA is going to lose a gigantic amount. NAMA will now have to turn €31Bn (if there is a 66% fall on everything) into €74Bn in capital and interest in ten years. It won’t. NAMA will lose €43 Bn if we are lucky.
The worst thing: FF know the property market better than anyone. They know that they are stealing €43Bn from a country on its knees. The person who calculated the €74Bn figure is very knowledgeable about NAMA and I believe him.

http://www.politics.ie/economy/113049-what-nama-plan-really-means.html