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Record Year Ahead in Reykjavík

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Record Year Ahead in Reykjavík

Reykjavík with Hallgrímskirkja in the background

Reykjavík. Photo: Páll Stefánsson.

In the coming year, a record number of apartments will be built in Reykjavík, according to Mayor Dagur B. Eggertsson, who introduced the city’s budget today. He spoke of how the city has emphasized ensuring an increased number of rental and lease apartments as part of its planning, mbl.is reports.

Dagur promised that numerous lots would be made available in the city next year. A five-year budget plan calls for income from the sale of lots to amount to ISK 3.7-4.4 billion (USD 33-39 million, EUR 30-36 million) a year.

In addition, ISK 800 million (USD 7.1 million, EUR 6.5 million) will be allocated toward so-called foundation grants for the projects of rental companies planning to construct housing for students, lower-income residents or public housing.

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