Contractor Íslenskir adalverktakar (ÍAV) is about to begin the construction of three apartment complexes in Reykjavík suburb Seltjarnarnes. There is room for 80 luxury apartments, some of which have already been sold.
The apartments cost between ISK 42.1 and 132 million (USD 671,000 and 2.1 million, EUR 499,000 and 1.6 million); the average price per square meter is ISK 500,000 (USD 8,000, EUR 5,900). The first apartments will be turned over to its owner on November 21, 2008, Morgunbladid reports.
“Not much has been built in Seltjarnarnes for a long time and we aim at building luxury apartments,” said Eyjólfur Gunnarsson, the managing director of the sales and marketing department of ÍAV, in response to the interest people have shown in the project.
“And Seltjarnarnes is simply a popular location,” Gunnarsson concluded.