House sales at ten-year low

31.03.2023 - 10:21
House sales at ten-year low
Last year’s average price of a dwelling house in Tórshavn was DKK 3.9 million
Photo: Statistics Faroe Islands

The 271 dwelling houses sold last year is the lowest figure in a decade, reports Statistics Faroe Islands.

The types of residential properties sold are evenly spread across villages, towns and cities.

Of the 271 sold houses, 99 were sold in smaller villages, 90 in towns and small cities and 82 in the capital region.

 >> SEE ALSO More houses than flats being built

The lowest figure this century came in 2009 when 153 dwelling houses were sold. The record high came in 2015 when the figure hit 398. The past two years have seen a decline in house sales across the country, especially outside the capital region.

Tórshavn still has the highest average price for a dwelling house, currently at DKK 3.9 million compared with DKK 2.2 million in towns and small cities and DKK 1.8 million in villages.

It is important to note that these figures only cover dwelling houses and not terraced houses and flats.


Read the Faroese version of this article here.

More Faroese News in English.

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