Mayor urges housing authority to join rental apartment project

The mayor of Tórshavn, Elsa Berg, has sold a large plot of land by Villingardalsvegur to the Housing Service and is calling on the public housing authority Bústaðir to use its loan authority to buy into the project, KVF reports.

The Housing Service is currently in negotiations with investors about the development, which will include between 110 and 140 rental apartments. Investors are to purchase the apartments and then rent them out.

“This is a fantastic opportunity to get many rental apartments in the capital in a short time,” Berg said.