3.6 Property Market

3.6 Property Market

  • Total Value of Properties
  • Rental Price Development
  • Residence of Real Estate Owners
  • On Index

Total Value of Properties

This graph shows the development of property value in the central area. 

Monitoring area is Tjorneshreppur, Norðurþing west from Tjornes, Þingeyjarsveit and Skútustaðahreppur. 

Value of Residential Properties

This graph shows the development of the value of residential properties in the central area.

Fasteignamat atvinnuhúsnæðis

This graph shows the development of value of commercial real estate. 

Rental Price Development

This graph shows the development of rental prices in Húsavík and in the central area outside of Húsavík. The central area outside of Húsavík is Skútustaðahreppur, Þingeyjarsveit, Tjörneshreppur, and Reykjahverfi.

There are a few things to keep in mind when examining the graph.

  • The information only extends to notarized rental agreements.
  • The median price per square metre cannot be published outside of Húsavík since notarized rental agreements are often too few (less than 5). 
  • Student apartments, social housing and service apartments are not part of the information on median price per square metre. 
  • The information only extends to residential properties since information on commercial property is not maintained.

Information on development of rental prices are downloaded from Þjóðskrá (Registers Iceland)

Original data and processing.

 

Residence of Real Estate Owners

This graph shows where individuals owning properties in the municipalities in the central area reside.

Búseta fasteignaeigenda

This graph shows the percentage of real estate owners, individuals and legal entities living in the municipality. 

Búseta fasteignaeigenda

This graph shows the percentage of real estate owners, individuals and legal entities, living outside of the municipality, in the capitol region, elsewhere in the countryside or abroad. 

On Index

Rateable value creates a basis for levies and is for example the basis for the charge of stamp duty for notarizing contracts of sale and, for some loan agencies, the mortgageability of real estate. Price level in February determines the rateable value each year. Increased demand for housing with an increase in population, tourism and industry can affect the rental prices.

Overall evaluation of real estate, residential properties and commercial properties will be published in this index along with information on rental prices based on notarized rental agreements.

Frequency

Yearly.

Area

Central area and rental prices only for Húsavík. 

Accountability 

The project manager is responsible for acquiring the data and publishing it according to the publishing schedule.

Source Material

Data will be collected from Registers Iceland and Statistics Iceland.