Double-figure house price rises

Property prices in Iceland in 2016 are forecast to rise by 5.8% for the country as a whole, with properties in central Reykjavik rising in value by almost 17%.

According to data from Registers Iceland, real estate value is expected to rise in 2016 for 93.6% of all properties. The rises will be higher in the capital than in other parts of the country, with the price of a flat in Greater Reykjavik rising by 10.8%.

The lowest overall rise in property (both residential and commercial) is forecast to be in the West Fjords region of Iceland, where prices are expected to increase by just 1.1%.

The total value of all property in Iceland in 2016 is estimated at ISK 5.8 trillion (approx. €39 billion).

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