IKEA Building Apartments For Staff As Rent In City Skyrockets - The Reykjavik Grapevine

IKEA Building Apartments For Staff As Rent In City Skyrockets

Published April 7, 2017

Nanna Árnadóttir
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Grapevine Archives

IKEA in Iceland has announced they are building an apartment block with 36 flats, to be rented out to its employees upon completion next summer, reports MBL.

According to Þórarinn Ævarsson, CEO of IKEA in Iceland, the aim is to guarantee safe housing for the staff at an affordable price point; a little under 100.000 ISK a month for the smallest, fully furnished flat.

“That’s much cheaper than what a lot of people are paying for a dump here and there around town,” said Þórarinn.

One of the less pleasant side effects of the booming tourism industry in recent years has been the incredible rise in real estate costs, pricing locals out of affordable housing.

Þórarinn told MBL that it’s a priority that staff have a roof over their heads, especially as security – financial and emotional – is what keeps qualified staff productive and content.

Should there be flats to spare, they will be rented out to students or possibly employees of the new Costco, located near IKEA.

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