From Iceland — Steep Rise In Rent Prices

Steep Rise In Rent Prices

Published October 19, 2013

Rental rates across the country have risen by 10% in the past year and by 30% since 2011.

The prices have gone up quickly in the past few months. Registers Iceland frequently calculate cost of renting in Iceland and in September it had increased by 1% from the month before, RÚV reports.

In the last three months it’s risen by 5%.

Inflation in the past 12 months has only increased by 3.9% so rent has increased by 5.5% in real value since September 2012.

Looking further back, rent prices have gone up by almost 30% since 1 January 2011. At the same time, more and more people live in rental properties; one in every four households now rents property, compared to one in every seven households in 2007.
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