The residential construction segment has picked up in Iceland as the real estate market continues its resurgence from the crash of 2009. An economics report commissioned by the Icelandic bank Íslandsbanki (ISB) has found that residential real estate prices rose by 2.6% in 2013, taking rates up to similar levels found in 2004 before the last real estate bubble.
The ISB report also found that new apartments are selling well due to an increase in purchasing power for the average Icelandic citizen.
The residential construction segment has picked up in Iceland as the real estate market continues its resurgence from the crash of 2009. An economics report commissioned by the Icelandic bank Íslandsbanki (ISB) has found that residential real estate prices rose by 2.6% in 2013, taking rates up to similar levels found in 2004 before the last real estate bubble.
The ISB report also found that new apartments are selling well due to an increase in purchasing power for the average Icelandic citizen.
