Horse stables in Reykjavík and its suburbs are being sold for the same price as houses, up to ISK 30 million (EUR 330,000, USD 427,000).
Last year, the value of stables around Reykjavík increased by 40 percent. Recently, an unfinished 90-square-meter stable, sold for ISK 17 million (EUR 187,000, USD 242,000), equivalent to the price of some two-bedroom apartments in the center of Reykjavík. RÚV reports.
In the stable area in Vídidalur, Reykjavík, a 179-square-meter stable with room for 22 horses, built in 1971, is estimated as worth ISK 28.7 million (EUR 316,000, USD 409,000) and in the stable area in Blídubakki in Reykjavík suburb Mosfellsbaer, a 185-square-meter stable for 26 horses built in 2000 is worth ISK 30 million (EUR 330,000, USD 427,000).
The newest stables are in fact built and designed as luxurious equine apartments, complete with a kitchen, living room, bathroom and a facility for changing clothes. Often they include a facility for training horses indoors.
Helgi Jón Hardarson, chief of sales at Hraunhamar real estate, told RÚV that people have a much higher purchasing power in recent years, and are thus making higher demands of the kind of space they buy for their horses. He added that more people interested in horse riding than before, he said.
Jón Páll Sveinsson, who has been a professional horse trainer for 15 years, said he could hardly describe how much the condition of stables have changed since he first started out. But, he said, he finds the current price of stables far too high.
Sveinsson said horse owners are wealthier than they used to and that people are prepared to put more money into their hobby and to make the wellbeing of their horses a priority.
Click here to read a story about a pool for horses.