Real estate purchases in Grindavík are nearing completion
Grindavík. mbl.is/Eggert Jóhannesson
952 applications from individuals to purchase residential property have now been received by the Þórkatla Real Estate Company. This is stated in an announcement on the Þórkatla website. The deadline for individuals to apply for the sale of residential property in Grindavík expires on March 31.
938 properties have been purchased. The company is still processing seven applications, and in seven cases, the company has rejected purchases because the application does not meet the requirements of the law on exemption from legal domicile.
Up to 80 purchase agreements per day
"Looking back, this was an incredible project and it still is," says Örn Viðar Skúlason, Managing Director of the Þórkatla Real Estate Company.
“There were various unforeseen challenges, as is to be expected in such an unusual project, but after the buy-outs began at the end of April, it has gone extremely well. At its peak, we were closing 80 purchase agreements a day.”
In the first six weeks after finalizing agreements with lending institutions, the company closed the purchase of 660 properties or 80% of those that had applied at that time. By the end of June, the company had closed the purchase of 750 properties.
Örn Viðar Skúlason, Managing Director of Þórkatla Real Estate Company. mbl.is/Eyþór Árnason
Þórkatla builds up a real estate team in Grindavík
According to the announcement, purchasing properties was just the first step. It states that the purpose of Þórkatla Real Estate Company was to create space for Grindvík residents to relocate due to the ongoing eruptions and earthquakes. The company has now shifted its focus to the operation and maintenance of the properties.
To this end, the Þórkatla Real Estate Company has hired a three-person team to monitor the company's properties in Grindavík. Several contractors are also working on repairs and safety maintenance of the houses. For example, a team of plumbers visited all the company's houses in the town and inspected the heating system, repaired faults, and drained the snowmelt. Electricians and carpenters have also been involved in repairs to prevent damage to the houses.
"Ultimately, the company's goal is always to enable residents to buy their properties back when it is clear that conditions have improved so that a thriving settlement can take root in Grindavík again."
