Chinese investors interest in land comes under criticism

The news that Chinese investors were interested in buying land next to the famous Geysir hot spring has come under strong criticism in Iceland. People or companies outside the EEA are not allowed to buy land that measures over 25 hectares according to current regulations. 

The investors want to buy the farmland of Neðri Dalur in Biskupstungur to set up a tourist business. 

Helgi Kjartansson, head of the district council at Bláskógabyggð says that regulations need to be made clearer. "When investor Huang Nubo wanted to purchase the land at Grímsstaðir a few years ago, the government should have made stricter regulations on such investments and make their policies clear. People should have expected that the Chinese would come back to Iceland for similar reasons."

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