New cooperative housing initiative

The idea of starting a housing cooperative in the Faroes is not new.

Earlier this year, we reported on a new housing cooperative, set up by Dennis Holm, the former mayor of Vágur, Suðuroy.

Not much has been reported about this cooperative since then, and it is not mentioned in the sound clip linked to below. Holm has now been appointed the Minister of Fisheries, so this new group is presumably some sort of extension of what Holm initiated.

A housing cooperative is an alternative form of home ownership in which dwellers do not have outright ownership of the property in which they reside. Instead, each dweller is a shareholder in a corporation which owns one or more residential buildings.

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“Our aim is to push for cheaper flats without compromising on quality,” says group organiser Hans J. Hermansen

The group will have an introductory meeting at Tórshavn’s Finsen apartment building on 18 January. This will be followed by the group’s first general meeting on 22 March at the same venue.

For further details, join the ‘Lutaíbúðir’ group on Facebook. As always, being unable to write in Faroese should not prevent you from participating in the group as everyone in the group can read and write English.

Read the Faroese version of this article here.

More Faroese News in English.