Financial and Mortgage Portfolio Overview
Real estate markets still buoyant
Commercial property prices rising again while residential house price rises have gained steam
Capital area house prices relative to macroeconomic fundamentals
Index, January 2011=100
Residential house prices and turnover in greater Reykjavik
% change (l.axis) and number (r.axis)
30
1200
200
180
25
1000
160
20
800
140
15
600
120
10
400
100
5
200
80
0
0
2000
2002
2004
2006
2008 2010
2012
Relative to the consumer price index
-Relative to the building cost index
2014 2016
Relative to the wage index
Relative to the rent index
2018
2020
2022
2014
2015
2016
2017
2018
2019
2020
2021
2022
No. of contracts (r.axis)
YoY price change (l.axis)
Commercial property real prices in greater Reykjavik
Index, 1995-100 (1.axis) and % change (r.axis)
Commercial real estate market activity
No. of registered purchase agreements
350
300
40
40
60
300
250
250
200
20
200
20
150
150
0
100
100
-20
50
50
0
-40
0
2000
2002
2004
2006 2008 2010
YoY % change (r.axis)
2012
2014 2016 2018
Real prices (I.axis)
2020
2022
2000
2002
2004 2006
2008
2010
■Retail and offices.
2012 2014 2016 2018
■Industrial, specialized, storage
2020
2022
Source: The Central Bank of Iceland.
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August-September 2022View entire presentation