Housing company Bústaðir says rent price will be decisive for apartment project

Bústaðir, the Faroese public housing company, says it will not commit to a rental apartment project at Villingardalsvegur in Tórshavn until it knows the rent level, director Jógvan Ósá told KVF.

Ósá said the company is in talks with Húsavarðartænastan, the municipal housing service that has purchased land from Tórshavn municipality for the development.

Tórshavn Mayor Elsa Berg has specifically called on Bústaðir to use its loan authority to buy into the project, but Ósá stressed that several issues need clarification before a decision can be taken.