Property Prices in Reykjavik, Iceland

Index Info
Price to Income Ratio: 8.14
Mortgage as Percentage of Income: 90.46%
Loan Affordability Index: 1.11
Price to Rent Ratio - City Centre: 16.45
Price to Rent Ratio - Outside of Centre: 15.42
Gross Rental Yield (City Centre): 6.08%
Gross Rental Yield (Outside of Centre): 6.49%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 278,840.00 kr 240,000.00-330,000.00
Apartment (1 bedroom) Outside of Centre 253,260.87 kr 220,000.00-300,000.00
Apartment (3 bedrooms) in City Centre 394,000.00 kr 350,000.00-500,000.00
Apartment (3 bedrooms) Outside of Centre 342,636.36 kr 300,000.00-450,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 83,983.65 kr 66,425.12-92,902.27
Price per Square Feet to Buy Apartment Outside of Centre 70,302.69 kr 53,883.31-92,902.27
Salaries And Financing
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Average Monthly Net Salary (After Tax) 510,090.36 kr
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 9.41 6.00-11.00

These data are based on 257 entries in the past 18 months from 39 different contributors.
Last update: January 2025

Sources and References
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1 Comments so far
Einar Bergmundur on Jan 27, 2024:
Thank you for this very informative collection of data.
There is one thing I would like to mention regarding cost of buying homes. That's the rate of interests and methods of lending.
In Iceland, where I live, it is common that people actually pay up to four times the naming price of a property due to high interest rate and long mortgage. 40 years is common