Is Iceland a good place to buy a house?

Despite the political and economic climate uncertainty, average property for sale prices in Iceland have seen the largest increase in the last three years. The average growth is 6%, compared to 4.1% recorded in 2015. Iceland wins first place for the first time when the Global House Price Index was launched. The island reported an astonishing 14.7%.

Are summer houses legal in Iceland?

(Summer houses in Iceland are used as vacation properties for locals, who often rent them to tourists. They are not considered legal for permanent residence.) “We’ve rented it out to over 100 groups over the years, and they’re always amazed at how staying there brings a sense of peace that you cannot buy,” Mr. Larusson said.

How much does it cost to live in Iceland?

According to the National Registry of Iceland, houses in the capital area currently cost between 80 million and 110 million kronur ($590,000-$800,000), while apartments go for 50 million to 64 million kronur ($365,000-$470,000).

Who are Iceland's foreign buyers?

Since the start of Iceland’s tourism boom, most of its foreign buyers have been European, many from Britain, France and Scandinavia, Mr. Stefansson said. Most of his firm’s foreign buyers hunt for second-home apartments in downtown Reykjavik or properties in the countryside.