Iceland is an island state with the total territory of 103 thousand sq.km. The country’s economy is steadily developing, and comfortable conditions for people to live are created. Real estate in Iceland can be a good option for investment and bring a high income.
Real estate in Iceland: is it worth investing in the country?
The procedure for buying property in Iceland is similar to registration in other European countries. Using the services of a real estate agent, you can reduce the time to search and get rid of a number of troubles. The agency takes care of all the aspects, you only need to select a suitable object from the proposed options, agree on the price and sign the contract. Immediately after the purchase of housing, the new owner pays taxes and utility charges.
There is a good choice of real estate in the capital city Reykjavik, but the cost of apartments and houses here is much higher than in other cities.
You may get acquainted with the actual offers at the real estate market by applying to several organizations for help.
The real estate agency Leigulistinn has an extensive database of objects for every taste. Here you can find a great variant of apartment for a student, a cozy family home, or comfortable apartments for recreation.
Stúdentagarðar student office offers its services for students of the University of Iceland. It will help to find budget options for rooms in hostels, or inexpensive apartments for couples with children.
Another organization that focuses on students is Félagsstofnun Stúdenta. Among its proposals are options in student residences.
Iceland is quite popular among tourists. The northern part of the country is ideal for winter sports and ice fishing, and the south is amazing scenery. Therefore the influx of tourists here is almost all year round, which allows profitable investment in the real estate market of Iceland.
Apartments are the most popular. The minimum cost per square meter of housing is 2 thousand euros, if the object is located in the central areas, and has a good repair, it is asked for 4 thousand euros per square meter.
Compared to last year, the cost at the real estate market has increased by 25%, which is due to growing demand for housing. Therefore, the authorities have decided to expand the supply, the project includes the construction of 10 thousand apartments. According to experts, in the coming years the prices for housing will grow, which is a good trend for investors.
It should be understood that in addition to the necessary funds for the purchase of real estate, it is necessary to take into account the associated costs for the services of an estate agent, payment of taxes and transaction processing. When renting an apartment to the state, 20% of the received amount is left.