January 20, 2005

ASI, the Workers Union, states that a shortage of skilled builders coupled with the enormous expansion in the area around Reyjavík has brought up to 1000 illegal workers in the construction industry.

Italian company Becronal has suggested that it may build an aluminium processing plant in Akureyri.

Íslandsbanki reports that last year the cost of apartments in Reykjavík increased a staggering 25%. Further, they believe that the cost will continue to rise at the same rate, possibly at a higher rate.