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Iceland: Real estate market at crossroads

12-03-2007 06:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Kaupthing Bank

Housing prices will continue to rise over the coming years. The pace of these rises, however, will slow down considerably. High interest rates, tighter access to loans and a cooling labour market are the factors that will reduce demand. Supply, on the other hand, seems to have peaked and is likely to diminish over the next years – which should help stabilise real estate prices. A turn-around is expected in the market in 2009 when interest rates start to fall again and a new upward cycle begins in the economy.

To read the whole report visit: http://www.kaupthing.com/lisalib/getfile.aspx?itemid=11919.

Author:
Asgeir Jonsson, head of the analysis department of Kaupthing Bank.
asgeir.jonsson@kaupthing.com

About Kaupthing Bank
Kaupthing Bank offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. The Bank is a leading player in all the main areas of the Icelandic financial market, and in addition to Iceland, the Bank's key markets are Denmark and the United Kingdom. The Bank focuses on the growth and development of its international activities and aims to be one of the leading investment banks in northern Europe.

Kaupthing Bank operates in twelve countries with its headquarters located in Reykjavík. The Bank's main subsidiaries are FIH Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank Sverige, Kaupthing Bank Luxembourg, Kaupthing Bank Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank also has activities in the United Arab Emirates (Dubai) and Qatar and operates a branch in the Faroe Islands. As of 30 September 2007 the number of full-time equivalent positions was 3,190 at Kaupthing Bank and its subsidiaries. www.kaupthing.com

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