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Real estate prices keep rising

By Iceland Review

TV-station NFS reports that the price of residential housing in the Reykjavík area appreciated by 33% in 2005. Prices rose twice as fast as in the northeast region where prices rose only about 18%.

Prices of residential property in Reykjavík have more the tripled over the past fifteen years, said NFS. In the west and south regions, prices have appreciated by a similar factor, but in the northwest (Vestfirdir), prices only rose by 57% over the last 15 years.

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