Approved construction permits in Reykjavík increased by 72.4 percent in 2015, with 969 permits approved. The real estate market came to a standstill in the years following the financial crisis in 2008, reaching an all-time low in 2010, reports Vísir.
Read more: Luxury apartments in controversial new building sell like hotcakes
Housing starts soared in 2015, with 90 percent of permits being so called infills – also known as ‘land-recycling’. An infill is defined as the “use of land within a built-up area for further construction.”
“These permits generally take longer to review but are a safe investment for developers because the demand for property in central Reykjavík remains high,” said Dagur B. Eggertsson, mayor of Reykjavík.
Approved construction permits in Reykjavík increased by 72.4 percent in 2015, with 969 permits approved. The real estate market came to a standstill in the years following the financial crisis in 2008, reaching an all-time low in 2010, reports Vísir.
Read more: Luxury apartments in controversial new building sell like hotcakes
Housing starts soared in 2015, with 90 percent of permits being so called infills – also known as ‘land-recycling’. An infill is defined as the “use of land within a built-up area for further construction.”
“These permits generally take longer to review but are a safe investment for developers because the demand for property in central Reykjavík remains high,” said Dagur B. Eggertsson, mayor of Reykjavík.
