Great demand for homes in Sandoy

Housing demand soared in Eysturoy when the Eysturoy-Tórshavn subsea tunnel project was announced.

The same is happening in Sandoy now that drilling has started on the Streymoy-Sandoy subsea tunnel.

Greatly increased demand

In four years’ time, the two islands will be connected by road, and this has led to a greatly increased demand for housing in Sandoy in recent months.

”Now we are really seeing the effect of the upcoming subsea tunnel,” says Petur Mohr Niclasen, CEO of real estate agency Skyn.

“When we list a property for sale in Sandoy, we usually sell it immediately – sometimes well above the asking price.”

High demand, short supply

Kára á Dunga, CEO of the Betri Heim real estate agency, agrees and says that another reason is the strong economic climate, with many looking to buy holiday houses.

They add, however, that not many properties are being listed for sale in Sandoy these days, but that may change soon.

“It is not inconceivable that houseowners in Sandoy want to wait a couple of years before selling, as they may be able to demand a higher price nearer the time when the subsea tunnel is taken into use,” says Dunga.

Translated by prosa.fo