Prices for apartment in the capital area are expected to rise an average of eight or nine percent annually in the coming years, according to an economist at Landsbankinn.
The time of sharp real estate market growth in Reykjavík is over, according to a report released yesterday by Landsbankinn bank.
Real estate prices in the Reykjavík capital area fell around 0.7 percent between months at the end of last year.
The Housing Financing Fund (HFF) released a monthly report today stating 72 percent of apartments in the Reykjavík capital area sold for less than the asking price.
An equal number of tourists in the Reykjavík capital area may be staying in homestays such as Airbnb as in hotels.
A new poll conducted by the Housing Financing Fund (Íbúðalánasjóður) suggests that the number of homeowners in Iceland is rapidly decreasing.
The National Registry of Iceland this week published its latest figures on the housing market, which showed a huge jump in house prices between February and March.
An Icelandic construction company is offering ten apartments for sale, where the buyer will only need to provide a five percent down payment.
The price of real estate in Iceland could go up by as much as 30 percent in the next three years, according to a new forecast from Arion Bank.
British billionaire Jim Ratcliffe has purchased the majority of the land of Grímsstaðir á fjöllum, Northeast Iceland, located in the highlands north of Vatnajökull glacier.
Real estate prices in the Reykjavík capital area have gone up by 13.6 percent in the past 12 months.
An amendment to construction regulations, signed yesterday, is a major step toward reducing construction costs and slowing down property price increases.
Ásmundarsalur, a building on Freyjugata, Reykjavík, which houses the art collection of the Icelandic Confederation of Labor (Listasafn ASÍ), is for sale.
Real estate prices in the capital area continue to rise, according to an economic report from Landsbanki.
Property prices continue to rise in Reykjavík, partly because of pressure from the tourist rental market.
The rental prices for apartments in Reykjavík and neighboring towns has increased significantly in the past years. While rental prices have increased by 40 percent since 2011, the consumer price index has only increased by 16 percent in the same period.
The average price of a house or apartment in Iceland is currently ISK 229,630 (USD 1,727, EUR 1,521) per sq. meter, according to a new study by Salvar Þór Sigurðsson and reported by bb.is.