From Iceland — Rent In Reykjavík Has Almost Doubled

Rent In Reykjavík Has Almost Doubled

Published March 30, 2015

Nanna Árnadóttir
Photo by
Helgi J. Hauksson

Rent in the capital has nearly doubled in the last four years and higher prices are putting pressure on young people still on the rental market, reports Vísir.

Numbers from Landsbankinn’s statistics department indicate that rent has risen by 41% in Reykjavík since 2011.

“This is a very serious situation,” said chairwoman of the parliament’s social welfare committee, Sigríður Ingibjörg Ingadóttir. “People have been waiting since the elections for some kind of action on this front. There is a shortage of affordable housing and there is not enough support for renters dealing with this issue.”

Currently a two bedroom apartment in the Vesturbær neighbourhood of Reykjavík goes for 148.000 ISK per month on average contra 121.000 on average in Breiðholt or 90.000 ISK in Akureyri.

The Minister of Social Affairs, Eygló Harðardóttir, has discussed proposals to confront this issue but so far they have not seen the light of day.

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