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The rental price is generally calculated based on the size of the apartment, neighborhood and assessment value. However it is also determined by the Welfare Department of the City of Reykjavík and the City Council.

The rental price calculation is based on the rental price being as equal as possible in terms of quality, location and that it supports social diversity in the city. 

  • From January 1, 2024, the rental price is calculated as a percentage of the 2024 assessment value.
  • Rental factors for calculating the rental price are 65 in order to equalize the rental price of apartments
    based on the number of rooms and location in the city.
  • The rental price is linked to the consumer price index.

Otherwisethe principles of calculation are based on

  1. Monthly rent (ISK/month) = Assessment value 2024 x rent factor/12 months

    The monthly rental price of Félagsbústaðir apartments, which have a defined assessment value, is determined as one-twelfth of the product of the current assessment value of the rental unit in 2024 and the rental factor for different postal codes.

  2. Monthly rent (ISK/month) =Assessment value 2024 or purchase price (whichever is lower) x rental factor/12 months.

    If the apartment is new and does not have a assessment value from the year 2024, an estimate is made based on the property's newer assessment value and the development of assessment values in the neighborhood in question over time. In the case of a new building, the rental price is determined based on the purchase price and rental factor. 

  3. Basic rent = rental constant + (price per square metre x size)

    The monthly rental price of Félagsbústaðir’s special housing units for the disabled and other rental units that do not have an assessment value is independent of the neighborhood and is determined so that a fixed fee is paid for each rental unit in addition to a variable fee that is in proportion to the published surface area of the rental unit. In some special housing units, the rent of the common area is divided between the residents and the Welfare Department in accordance with Regulation No. 370, issued by the Ministry of Welfare on 29 April 2016.


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