Property Prices in Reykjavik, Iceland

Index Info
Price to Income Ratio: 8.08
Mortgage as Percentage of Income: 91.70%
Loan Affordability Index: 1.09
Price to Rent Ratio - City Centre: 17.37
Price to Rent Ratio - Outside of Centre: 16.36
Gross Rental Yield (City Centre): 5.76%
Gross Rental Yield (Outside of Centre): 6.11%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 275,476.19 kr 220,000.00-340,000.00
Apartment (1 bedroom) Outside of Centre 252,500.00 kr 200,000.00-300,000.00
Apartment (3 bedrooms) in City Centre 395,541.67 kr 350,000.00-500,000.00
Apartment (3 bedrooms) Outside of Centre 341,272.73 kr 300,000.00-400,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 88,179.73 kr 82,683.02-102,192.49
Price per Square Feet to Buy Apartment Outside of Centre 74,343.01 kr 66,180.32-92,902.27
Salaries And Financing
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Average Monthly Net Salary (After Tax) 540,953.18 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 9.70 5.00-11.00

These data are based on 237 entries from 36 contributors over the past 18 months.
Last update: May 2025

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