Reykjavik house prices rising fast
After a flat in Reykjavik 101? Photo: Sigurður Bogi Sævarsson
A 100 m2 flat in central Reykjavik (101) will now set you back over ISK 40 million (approx. €280,000), 23% more than just two years ago.
According to data from Registers Iceland, prices for flats in many Reykjavik postcodes have risen by over 20% since mid-2013.
On average, a 100 m2 flat in central Reykjavik cost ISK 32.9 million in mid-2013. The same flat will set buyers back ISK 40.4 million today.
While not the most expensive area in absolute terms, Reykjavik Hlíðar (105) has seen the fastest rise in prices. The average price of a 100 m2 in that neighbourhood is now ISK 34.7 million (approx. €240,000), up a massive 26% on mid-2013 prices.
Indeed, prices in 105 – as in most Reykjavik areas – are rising fast, particularly over the last twelve months.
As an example, Flat 505 at Stakkholt 2a in Hlíðar (105) – 88 m2 – was sold in May this year for ISK 37 million. Just four months later, it is on the market for ISK 42.5 million, a price rise of almost 15%.
