We buy property in Iceland.
Iceland is a sparsely populated island nation in the North Atlantic, its population is 320,000 people, density is 5 people per 1 square kilometer, about 70% of the country’s population lives in cities. Before the 2008 crisis, this dwarfish northern state was second only to Norway in terms of GDP per capita and was among the five richest countries in the world.
As a rule, the business activity of any state is concentrated in the capital, Iceland is no exception. On the territory of Reykjavik and its suburbs in the southwestern part of the island, the majority of the population of Iceland is concentrated. This is the most suitable area for living in the Icelandic climatic standards. There are no strong climatic differences due to the proximity of the Gulf Stream and the abundance of geothermal springs. The suburb of Reykjavik Alfthanes is considered elite, since it houses the residence of the President of Iceland.
The whole territory of Iceland is dominated by low-rise buildings and a variety of architectural forms. Due to the abundance of geothermal sources, there are no problems with heating and hot water supply in Iceland, and even the central streets of the capital are heated by geyser waters. Icelanders widely use the concept of development of ecological and energy-efficient construction in harmony with the environment.
Investments in real estate in Iceland.
As you know, buying property abroad – a profitable investment of money supply, buying real estate in Iceland is no exception, but rather it is an investment in an amateur. However, as statistics show, there are many such lovers of fire and ice, and basically they are subjects of Great Britain and the USA.
The main growth and sales volumes in Reykjavik have always been and today are for residential real estate. In the center of Reykjavik the average price for 1 square. meter housing before the crisis was $ 4 584, now – 1600-1900 US dollars per square meter. And although the collapse of the banking system in 2008 has thrown the economy of Iceland into recession, nevertheless, at present it is being restored. This is due to the growth of exports, consumer spending, as well as investments in capital. The new economic forecast for 2010-2015 assumes a gradual positive GDP growth in 2012, which will undoubtedly affect the positive dynamics under development deals. The recovery of the economy and housing market in Iceland is expected to continue, although the euro of the debt crisis is likely to slow its growth.
After the banking crisis, real estate prices and, consequently, the volume of their sales fell sharply, but this is the best time to purchase real estate in Iceland for those who are attracted by its exotic and the opportunity to make money on this exotic. The problems with the execution of a sale transaction, if you have cash, there are no. You can benefit from your purchase and earn a long-term lease, the rental income tax is moderate and is 18%.
Private investment in real estate.
If you yourself prefer privacy away from megacities, without exhaust fumes and crime, you do not need a hot sun, do not fear the polar night. You are attracted by the extraordinary beauty and grandeur of the picturesque landscapes untouched by civilization, if you prefer fishing, snow, ice, bathing in hot springs, skiing, then Iceland for you, you will be satisfied. In favor of buying real estate in this country, says the relative cheapness of processing documents. So, for example, the registration fee is only 0.4% of the official price of real estate, the commission of agencies that conduct transactions, usually stays at $ 500, but, alas, Iceland will not please you with the cheapness of living in this wonder-country .
Since the territory of Iceland is not large, it is possible to get from one end of the country to another in an hour and a half, so you can buy real estate anywhere. In the east of the country there is a picturesque lake named Lehurinn, this offer is for lovers of water walks and fishing. In the west, the titanic harsh beauty of the numerous northern fjords will not leave anyone indifferent, even the most demanding and demanding visitor of Iceland. In this part of the island you can see the lord of the ocean – the whale. In Northern Iceland with a center in the city of Aquaeiri, you can practice winter sports: skis, snowboards, scooters and ice fishing at your service. In the south of Iceland you will see mountains, tundra, and waterfalls. It becomes clear that the main attraction of Iceland is its nature.
In conclusion, it should be added that the purchase of real estate in Iceland does not give the right to permanent residence in this country, but gives the official opportunity to stay in the country for 90 days (three months) for six months (or six months during the year). After 3 years of permanent residence in Iceland, having a residence permit that requires an annual renewal, you can get a permanent residence, and in five years – and citizenship of Iceland.