There is a shortage of housing available for students starting or returning to school this fall, with many of the available housing in the city being far too expensive for students to take advantage of.
According to Rebekka Sigurðardóttir from Icelandic Student Services (FS), owners of small homes available for rent in Reykjavík are more willing to rent to tourists than to students, RÚV reports. With the boom in tourism, it is more lucrative for apartment owners to rent their space for a premium through such services as Airbnb rather than commit to temporary rental agreements with students that would yield a guaranteed, but lower monthly income.
There are currently 1100 people on a waiting list for student housing and FS has just 800 apartments in total.
Basic student support is 140,000 ISK monthly, and with the cost of rent in the capital having risen by 10.5% over the past year, a very large proportion of this would be spent on rent, leaving students in precarious financial situations.