Reykjavik Property Market and Real Estate Guide

(Reykjavik, Capital Area, Iceland)

Iceland's capital city of Reykjavik lays claim to being the world's most northerly capital and is home to around 125,000 people. Reykjavik boasts a mixture of modern architecture that blends seamlessly with the older buildings. Everything from geothermal pools and pure air, through to glaciers and a vibrant city centre can be enjoyed here.

Reykjavik attracts many non-Icelandic residents, since it boasts a lively business market. The city has recently become a trendier place to live with a variety of properties to choose from, including expensive city centre apartments and good value-for-money homes on the outskirts and in the unspoilt natural surroundings.


Mount Esja looms in the distance and the landscapes that surround the city are just as interesting as the city itself. Socialising here is expensive in comparison to other European cities of a similar stature, and property can be purchased or rented all over the city.

Renting Serviced Apartments

Renting a serviced apartment in Reykjavik can be costly, and the city is now becoming famous for its unnecessarily and unusually high prices. Amenities and facilities, however, are of a high quality and Reykjavik is home to many high-end apartments for rent, especially in the city centre.

Rent is usually demanded on a monthly basis, although some of the plusher apartments will ask for six months upfront at a time. Cheaper deals can be had through agencies, and many renters complete their agreements through the company they work for, which often pays a proportion of the rent for non-nationals.

Buying Apartments and Houses

There are few laws that affect foreign investors looking to purchase property in Iceland, but using an independent expert for professional advice is necessary. Interbank transfers will hold their own independent fees and estate agents usually charge around three percent of the acquisition cost.

Real Estate Agents

The majority of real estate agents based in the capital speak a decent level of English and German, with contact details easily found in local magazines, newspapers and on websites. Agents are a useful way to get an improved price or better deal in Reykjavik and they are used by the majority of people who enter the local market.

Check out the following Reykjavik real estate agents:

Domus
Address: Laugavegi 97, Reykjavik, IS-101, Iceland, IS
Tel: +354 04 40 6000
Email: domus@domus.is
Website: www.domus.is
This firm has a great portfolio, ranging from rentals through to houses and properties for sale.

101 Reykjavik
Address: Laugavegur 66, Reykjavik, IS-101, Iceland, IS
Tel: +354 03 11 3101
Email: 101@101.is
Website: www.101.is
101 Reykjavik is a young company and their main target is the sale and rental of residential properties, although they also offer a small selection of commercial properties.

AS Fasteignasala
Address: Fjaroargotu 17, Reykjavik, IS-220, Iceland, IS
Tel: +354 05 20 2600
Email: kari@as.is
Website: www.as.is
AS Fasteignasala has been established in the Reykjavik realty market since 1988 and provides a high-end level of service and customer care.