Real home price decline creates buying opportunities

Egill Lúðvíksson, chief executive of Ívera, Iceland’s largest privately owned rental company, says falling real home prices have created buying opportunities for the firm, mbl.is reports.

“First and foremost, we are buying entire houses and, in some cases, plots of land. Our involvement in such projects can take various forms,” Lúðvíksson said.

He said the situation was the opposite during the period of low interest rates following Covid, when apartment prices rose sharply. Contractors and developers then had little interest in making concessions to sell projects in their entirety and reduce the associated risk.

Lúðvíksson was interviewed about the rental market in Morgunblaðið.