Property Prices in Reykjavik, Iceland

Index Info
Price to Income Ratio: 7.69
Mortgage as Percentage of Income: 77.46%
Loan Affordability Index: 1.29
Price to Rent Ratio - City Centre: 16.97
Price to Rent Ratio - Outside of Centre: 14.98
Gross Rental Yield (City Centre): 5.89%
Gross Rental Yield (Outside of Centre): 6.67%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 256,916.88 kr 200,005.00-300,000.00
Apartment (1 bedroom) Outside of Centre 229,569.27 kr 200,000.00-280,000.00
Apartment (3 bedrooms) in City Centre 375,965.52 kr 300,000.00-500,000.00
Apartment (3 bedrooms) Outside of Centre 331,653.85 kr 290,000.00-450,000.00
Buy Apartment Price
Price per Square Feet to Buy Apartment in City Centre 80,957.69 kr 65,960.61-111,482.72
Price per Square Feet to Buy Apartment Outside of Centre 63,525.24 kr 48,309.18-83,612.04
Salaries And Financing
Average Monthly Net Salary (After Tax) 505,806.82 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.05 3.95-10.50

These data are based on 285 entries in the past 18 months from 43 different contributors.
Last update: February 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