Half of new flats have remained unsold for more than 200 days according to the monthly report of Húsnæðis- og mannvirkjastofnun (Housing and Construction Authority). More previously-occupied flats were purchased in July than in previous years.
At the beginning of September there were around 5.000 flats for sale, a number that had nearly doubled since the beginning of 2023, according to the monthly report of Húsnæðis- og mannvirkjastofnun (Housing and Construction Authority).
About 2.000 unsold new flats were on the market nationwide at the start of the month. In the capital area there were just over 1.300 and just over 600 elsewhere.
About half, or 1.031 new flats, have been on the property market for 200 days or longer.
One of these flats was first advertised for sale just over two years ago and has remained unsold for 790 days.
The number of purchase contracts for new flats has been slightly below the average of the last ten years over the past three months, according to the monthly report.
There has been greater demand for older flats over the past two years, which has led to the share of available new-builds increasing nationwide.
More previously-occupied flats were purchased in July than in previous years, with 1.047 registered contracts. That is well above the July average of the past ten years.
In the second quarter, just over one in five new flats was sold, compared with just over half of the available other flats sold in the same period.
In the first seven months of the year, an average of 148 new flats have been sold each month, slightly below the average of the last ten years.
Source: Ruv.is
