Real Estate Market in Iceland on a Roll
September 29th, 2007 by admin
The year-to-date turnover from certified sale contracts for real estate in Iceland was nearly ISK 321 billion (USD 4.9 billion, EUR 3.5 billion) as of September 7, compared with an annual turnover of ISK 269 billion (USD 4.1 billion, EUR 3.0 billion) in 2006.
The number of sale contracts reached 10,500 on September 7, compared with 11,700 contracts for the entire year in 2006, Morgunbladid reports.
Haukur Ingibergsson, director of the Land Registry of Iceland, said a number of factors contribute to this boom in property sales, like the increase in population, high employment rates, greater purchasing power, economic growth, a general sense of optimism and a varied supply of housing.
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- Posted in Europe real estate, Iceland, Property Market