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Foreign Tenants Pay More For Smaller Apartments
Foreign tenants pay 14 percent higher rent than local tenants, despite typically choosing smaller apartments, according to a new report by the Housing and Construction Authority (HMS). A new report finds that foreign tenants tend to rent smaller apartments than locals, yet…
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Do Shit: Housing Benefits Edition
We immigrants get a bad rap sometimes. Despite the fact that moving to another country, learning a new language, integrating into a new culture, and basically starting life from scratch far from the place you were born is a hell of a…
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Reykjavík Real Estate Continues To Be Really Expensive
Over 85% of homes in the capital area have a property value over 60 million krónur (US$432,000, €403.000), according to a new report from the Housing and Civil Engineering Agency (HMS). This is an increase of 4,9% in the first five months…
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Rent Prices Rose Over 100% In Last Decade
Real estate and rental prices have risen disproportionately more in Iceland than in the rest of Europe in the last 10 years, according to data from the Icelandic Tenants’ Association, reports Fréttablaðið. [su_pullquote]Who better to ask what’s best in Reykjavík than the…
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Socialist Party Founder Casts Doubts On Infrastructure Minister’s Housing Bill
Sigurður Ingi Jóhannsson, Minister of Infrastructure and chairman of the Progressive Party, presented a bill yesterday which aims to improve housing security and the legal position of tenants. Vísir reports on Gunnar Smári Egilsson, the founder of the Socialist Party in Iceland,…
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The Icelandic Roundup: Rental Market in Crisis
On this week’s episode of The Icelandic Roundup, Grapevine editor-in-chief Valur Grettisson and culture editor Josie Anne Gaitens are joined by Guðmundur Hrafn Arngrímsson, the Chair of the Icelandic Tenants Union. Guðmundur explains the current dire situation with the rental market in Iceland,…
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Housing Prices Continue Climbing, Supply Continues Falling
A new report from the Housing and Construction Authority shows that the average price for residential real estate in the greater Reykjavík area increased by 5 million ISK in the past two months alone. Overall housing prices are climbing, but availability is…
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Iceland With Largest Housing Price Increase In Europe
A new report from Eurostat details both rent and housing price increases in Europe from the first quarter of 2010 to the third quarter of 2021. Perhaps unsurprising to many local readers, Iceland has come out on top. [su_pullquote]Become a member of…
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Rental Prices Vary Widely From Region To Region In Iceland
According to data from the National Registry for December 2020, there is a wide discrepancy over rent per square metre in different parts of Iceland, and across different regions of Reykjavík itself. This information is based solely on properties registered with their…
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The High Cost Of Living: Renting And Being Foreign In Reykjavik
Upon first moving to Iceland, the primary factor that must be arranged is a place to live; if one is from outside the European Economic Area, in most cases this has to be established before even setting foot in the country. For…
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Iceland’s Largest Rental Company Not Lowering Rates, But Accepting Delayed Payments
Reitir, the largest rental property company in Iceland, will not be lowering the rent on their properties for the foreseeable future, RÚV reports. They have, however, allowed for delayed rent payments from companies who are struggling now in the midst of the…
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Company Retracts Rent Hike After Icelandic Union Gets Involved
A rental company poised to impose a sudden rent hike on its tenants has withdrawn the measure after reaching an agreement with the labour union VR. In a joint statement from VR and the rental company in question, Almennaleigufélagið (AL), Kjarninn reports…
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Icelandic Labour Union Takes On Bank Connected To Rental Company
The Store and Office Workers’ Union (VR) has threatened to withdraw over 4 billion ISK in union funds from a bank set to take over a rental company that recently gave tenants just four days to respond to a rent hike in…
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Beloved Reykjavik Coffeeshop To Shut Down Due To Massive Rent Hike
C Is For Cookie, a cozy downtown café beloved by locals and tourists alike, will have to be shuttering its doors, Vísir reports. The reason behind the closure is a massive rent hike imposed upon the business by the company that bought…
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Rent In Reykjavik Rising Proportionately Higher Than Cost Of Buying Apartment
The rent in Iceland’s capital is raising at a higher percentage than the cost of buying an apartment, underscoring the exclusivity of the market. RÚV reports that, according to a new monthly report from the Housing Financing Fund (HFF), rent in Reykjavík…
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Rent In Reykjavik 3,000 ISK Per Square Metre
Rental prices in registered Reykjavík housing increased by 6.1%, and increased by 12.9% in neighbouring municipalities, RUV reports. Prices rose the most outside of the greater capital area, at 14.5%. Prices remained the highest in the downtown postal code of 101, at…
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Rental Giant Hiked Rates 50% To 70% Over Past Two Years
Gamma, one of the largest rental companies in Reykjavík, has driven up rents by 50% to 70% over the past two years alone. Meanwhile a new poll from the Housing Financial Fund shows that rents have risen far higher than wages can…
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The Wave Crests: Renting In Reykjavík
That the rental market in Reykjavík is experiencing a crunch is no secret. While working class Icelanders struggle to find a place to live, many properties that could be rented out to locals are instead listed on Airbnb for visitors. In fact,…
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Rent 14 Square Metre Room For 100,000 – Toilet In The Shower!
Have you ever daydreamed about being able to take a shit in the shower? Well, good news everybody, now you can! A real estate entrepreneur posted on the Facebook group Leiga á Íslandi – Rent in Iceland an ad for a 14…
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Highest Earning Icelandic Airbnber Made 236 Million ISK
According to figures from the newly launched tourism fact database Mælaborði ferðaþjónustunnar, the individual who made the most from renting out apartments through Airbnb profited 236 million ISK over the past 12 months. During the period five individuals made over 100 million…
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VIDEO: Understand Icelandic In 3 Words
If you find it too tedious and time consuming to actually learn Icelandic, consider watching this video where we teach you how to pick out three key phrases from conversations with Icelandic people. Listen out for The Weather, Tourism and the Rental…
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20 Square Metres For 115,000 ISK Per Month
An Icelander offering a 20m2 room by Kringlan for the princely sum of 115,000 ISK per month has caught the attention of social media as being symptomatic of Reykjavík’s rental crisis. The would-be landlord has defended setting the rent that high for…
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Rental Rates Continue To Soar
Rental rates all over Reykjavík have increased dramatically over just the past five years alone, data compiled by Viðskiptablaðið shows. Gathering figures on rental rates for different sections of Reykjavík from the National Registry, for the time period beginning January 2011 and…