Garðabær receives 454 bids for 67 Hnoðraholt house plots

Garðabær received 454 bids for the right to build on 67 detached-house plots in the Hnoðraholt housing area, mbl.is reports. Mayor Almar Guðmundsson said the strong response showed the area’s popularity, even in the current economic climate.

Interest in the detached-house plots was high, and demand for single-storey row houses intended for building cooperatives exceeded the municipality’s expectations, Guðmundsson said. The municipality is contacting the highest bidders and reviewing the offers, which are due to be presented to the town council next Tuesday.

Some bids were considerably above the minimum prices. Guðmundsson said the offers were generally strong, but noted that the process is not final and that individuals are not permitted to acquire multiple plots. He estimated that the sale could bring in nearly two billion krónur, more than expected.

Preparations for road construction in the area are under way, and the municipality expects to see some activity in the second half of next summer. Further development has not yet been planned in detail. Guðmundsson said another plot sale was more likely in 2028 than next year, and that the latest bidding process would help guide decisions about the types of homes to offer.