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The real estate business is currently a flourishing and rapidly developing business in Iceland. The exotic nature of the country aids to its desirability, and therefore many real estate companies are cashing in on this aspect by offering property deals in Iceland.
The hottest spot in Iceland at the moment is the capital Reykjavik and adjoining areas. As it is the most important city and the gateway to Iceland, it is a favorite of real estate dealers. Houses, apartments, flats, and twin houses are abundantly available, and so are empty land plots and sections.
Akureyri, the second most important city, is another hot pick for real estate dealers, because of its location in the North and its proximity to volcanic fields, bird-watching and whale-watching zones.
Other important locations for real estate are Keflavik and Hafnarfjörður, which are also densely populated areas in Iceland, and home to most of the country's industries and commercial locations.
Summer houses, bungalows and land plots are also available is less populated locations. These are usually situated in places which have great scenic beauty and sparse habitation.
Houses in Iceland are well-furnished and well-equipped with the latest furniture and home comfort innovations.
A small apartment or combo in or near Reykjavik comes under $1million. Moderate sized apartment houses can cost anything between $7million and $20million. Flats are available in a wide range of sizes, with prices ranging between $5m to $30m depending on size. Prices of property in other towns are slightly lower. An elaborate and palatial summer house comes for $15m to $40m.
The housing loan market is currently growing steadily, with banks in Iceland providing loans at very competitive interest rates. Mortgage rates in Iceland have also decreased since 2004.
Habilis, one of the oldest real estate firms in Europe, are forerunners in Iceland real estate, offering vast options in property deals.
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