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Cost of Apartments Rising Quickly

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. This means that over a two year period, apartments will increase in price by 50%.

The change in loan policies and rates and the increase in wages were indicated as key reasons for the change in apartment prices.

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