Reykjavík
9°C
SE

Rental Price Increases Outpacing Those on the Real Estate Market

Nachrichten

Rental Price Increases Outpacing Those on the Real Estate Market

Construction.

Photo: Geir Ólafsson.

Price increases on the Icelandic rental market are outpacing those on the real estate market for the first time since 2014, Kjarninn reports. According to data from the National Register of Iceland, purchase prices fell by around .1% in March, while rental prices went up by 2.1%.

According to market analysts, when compared to previous years, prices on the housing market have been stabilizing of late, in spite of an upswing in housing construction and serious apartment shortages, particularly in the capital area.

The annual increase in property prices, when taking inflation into account, now stands at around 4.8%, as compared to an increase of 24% between 2016 and 2017. That 24% increase represented the largest jump in property prices in any developed country in the world that year.

Related

Tags

More news

Booking.com

Please consider supporting Iceland Review

IR Online

€3

Support

per month
IR Online

€5

Support

per month
IR Online

€10

Support

per month
IR Magazine

€55

For 6 Issues

per year