Downtown Reykjavík apartment sales slower than expected

At least 500 apartments in the area are either for sale or about to be listed for an estimated list price of ISK 25-30 billion. Elvar Orri Hreinsson, specialist at Íslandsbanki bank, states there are indications that slower sales of new downtown apartments could ‘’point to a saturation in the market for more expensive properties, too high pricing or a combination of those two aforementioned factors.” Sturla Geirsson, from Rauðsvík construction company, stresses the importance of looking at the market long-term. “The real estate market always moves in waves. Those pass quickly. Demand varies from season to season. In the end, everything will be sold.” - -



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.