Property Prices in Reykjavik, Iceland

Index Info
Price to Income Ratio: 7.67
Mortgage as Percentage of Income: 81.20%
Loan Affordability Index: 1.23
Price to Rent Ratio - City Centre: 15.92
Price to Rent Ratio - Outside of Centre: 14.91
Gross Rental Yield (City Centre): 6.28%
Gross Rental Yield (Outside of Centre): 6.71%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 275,038.46 kr 230,000.00-330,000.00
Apartment (1 bedroom) Outside of Centre 251,041.67 kr 220,000.00-300,000.00
Apartment (3 bedrooms) in City Centre 394,083.33 kr 350,000.00-500,000.00
Apartment (3 bedrooms) Outside of Centre 342,320.00 kr 300,000.00-450,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 80,618.52 kr 66,053.51-102,192.49
Price per Square Feet to Buy Apartment Outside of Centre 67,581.03 kr 49,238.20-83,612.04
Salaries And Financing
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Average Monthly Net Salary (After Tax) 519,961.08 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.73 4.25-11.00

These data are based on 279 entries in the past 18 months from 40 different contributors.
Last update: December 2024

Sources and References
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1 Comments so far
Einar Bergmundur on Jan 27, 2024:
Thank you for this very informative collection of data.
There is one thing I would like to mention regarding cost of buying homes. That's the rate of interests and methods of lending.
In Iceland, where I live, it is common that people actually pay up to four times the naming price of a property due to high interest rate and long mortgage. 40 years is common