122% hike in property prices

Residential property prices have risen more in Iceland than in any other of the 30 European countries is reported in the new Eurostat comparison from the European statistics office.

Between 2010 and the end of the third quarter of last year, the increase in property prices in Iceland is said to have been around 213%. Estonia is in second place when comparing the relative increases, where the price of housing increased by 199%. In several countries, the price of residential housing more than doubled during this time, but in three European countries the prices went down.

Increases over the last two to three years in Iceland are of a major importance. Thus, the price in Iceland increased by 58% from 2015 to the end of the third quarter of 2020, whereas from 2015 to the end of September last year the increase was 122% in Iceland.