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.
The most expensive place to buy a home in Iceland is Seltjarnarnes in the capital area at ISK 403,236 (USD 3,032, EUR 2,670) per sq. meter while the lowest price is in Flateyri, the West Fjords, where the price per sq. meter is ISK 51,354 (USD 386, EUR 340).
House prices are dead cheap in Flateyri. Photo: Páll Stefánsson.
A 150 sq. meter (1615 sq. feet) size home would therefore cost you ISK 60.5 million (USD 454,887, EUR 400,662) in Seltjarnarnes but ISK 7.7 million (USD 57,895, EUR 50,993) in Flateyri.