It was generally believed that real estate prices in Hveragerdi and Selfoss, in southwest Iceland, would drop after the earthquake that hit the area on May 29. However, these predictions have turned out to be wrong.
There has been a slow rise in real estate prices in the southwest of Iceland lately and the earthquake doesn’t seem to have had any impact on this development.
According to real estate agents interviewed by Morgunbladid, the prices remain the same and sales are not declining at all. “I sold a house on the Monday after [the earthquake on Thursday]” one real estate agent told Morgunbladid. “I guess buyers now ask more about if the house is strong enough to withstand an earthquake and if they have been damaged,” another agent said.
A real estate agent in Stokkseyri and Eyrabakki, just south of Selfoss, said that there were slight declines in real estate sales, but he confirmed that there is still great interest in houses and building lots in southwest Iceland.
