The Minister of Finance in Iceland says that the position of first-time buyers and lower-income groups is a priority in the housing market, and actions in their favor will continue.
The overall supply of housing in the housing market is good, but there is a lack of apartments for first-time buyers and lower-income groups, says the Minister of Finance, who says that group is a priority for the government.
The Minister of Finance has discussed the situation in the construction market at the government table. He says it is difficult to assess and that there has been an ongoing problem that economic data has not captured the market well enough. Surveys are being conducted, among other things, on staffing, what is under construction and more, as well as the emphases of the largest market players.
What comes off the assembly line is not what consumers need
“And according to them, it looks like there is still a very good project situation and no particular bottlenecks there. The other thing is that what comes off this assembly line may not have been exactly what consumers need and demand. That is why work is underway and will be given absolute priority, not in my ministry but under the authority of the government, to take certain urgent measures in the housing market,” says Daði Már Kristófersson, Minister of Finance.
Measures to be continued
The situation is very difficult for many. As the situation stands now, it does not seem that the supply as a whole is the problem, but the composition, there is a lack of properties for first-time buyers and lower-income buyers, that situation is being taken very seriously. As is known, the last government introduced certain measures for first-time buyers and others.
“There is a continuation of the measures that have been taken. The demand for those measures may not have been in line with what people expected, but that could of course change. But the situation of this group is a priority.”
Source: Ruv.is
