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.
The price of real estate in Iceland is no longer driven by increased purchasing power, but rather by a lack of housing and the fear that the housing supply will continue to diminish.
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.
Real estate prices in the Reykjavík capital area have gone up by 13.6 percent in the past 12 months.
The architect firm Zeppelin would like to design and build practical micro-apartments for young people to purchase.
The cost of rent went up by 40.2 percent from the beginning of 2011 until July 31 this year, according to a new report from the Ministry of Welfare.