Record Year Ahead in Reykjavík Skip to content

Record Year Ahead in Reykjavík

In the coming year, a record number of apartments will be built in Reykjavík, according to Mayor Dagur B. Eggertsson, who introduced the city’s budget today. He spoke of how the city has emphasized ensuring an increased number of rental and lease apartments as part of its planning, mbl.is reports.

Dagur promised that numerous lots would be made available in the city next year. A five-year budget plan calls for income from the sale of lots to amount to ISK 3.7-4.4 billion (USD 33-39 million, EUR 30-36 million) a year.

In addition, ISK 800 million (USD 7.1 million, EUR 6.5 million) will be allocated toward so-called foundation grants for the projects of rental companies planning to construct housing for students, lower-income residents or public housing.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article

Facebook
Twitter