City Council approves housing policy

The capital will need at least 240 new flats by 2022 and another 400 by 2030, ideally with most of these being rental properties.

This is the key point in Tórshavn City Council’s new housing policy, which was approved on 20 June.

Bústaðir, the Faroese Housing Association, is doing everything it can to build new rental accommodation. But the City Council would like more private developers to build rental flats.

An estimated 60 student or youth flats will be needed by 2022 and another 200 by 2030.

Fifteen years ago, Tórshavn had a highly one-sided accommodation pattern, with 95% dwelling houses and 5% flats.

Today, the capital consists of some 72% dwelling houses, 17% semi-detached or terraced houses, 7% owner-occupied flats, 3% student flats and 1% rental properties.

According to a City Council survey, a vast majority of the population would like to own the property they live in rather than rent.

Translated by prosa.fo