No data on house rental prices

17.04.2019 - 18:52
No data on house rental prices
The Rent Control Board needs more statistics to determine whether rental prices are fair
There are no official statistics on house rental prices in the Faroes

In its annual report for 2018, the Rent Control Board is calling for coordinated figures on price levels for house and flat rentals across the country.

The board says it regularly receives complaints about increasing rent prices, but it cannot determine fair rates due to a lack of statistics for comparison.

Although the board is authorised to cancel unfair rent increases, these decisions require properly analysed statistical data from the house rental market, and this data is currently not available.

Of the 60 cases registered with the board last year, 23 were complains, 26 were written enquiries and 11 were filed as “miscellaneous”. In 2017, 39 cases were registered – 20 complaints, 12 written enquiries and seven “miscellaneous” cases.

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