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Reykjavík Real Estate Prices Drop

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Reykjavík Real Estate Prices Drop

Reykjavík.

Photo: Geir Ólafsson.

Real estate prices in the Reykjavík capital area fell around 0.7 percent between months at the end of last year, Vísir reports. It was the first time since April 2015 that such a drop was observed. The numbers come from a monthly report made by the Housing Financial Fund (HFF).

The report also indicates a decline in the rental market. Around 78 percent of apartments in the capital area sold for under the asking price last November. The proportion has not been so high since early 2016.

According to the HFF, the changes are a sign of a real estate market which is calming following an upswing early last year.

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