CLOSE X

Register - if you don't have an account

Yes! Sign me up for Global Property Guide's fortnightly email newsletter.


Login - for registered users

Forgot Password?
Explore destinations
continent map couldn't be loaded Pacific Europe & Russia North America Latin America Asia Africa Middle East Caribbean

 


Financial Overview

Directory

Property Search

Global Statistics

Regional Statistics






Feb 11, 2015

Very low transaction costs in Iceland


How high are realtors’ and lawyers’ fees in Iceland? What about other property purchase costs?

Transaction Costs

Who Pays?
Registration Fee 0.10% buyer
Stamp Duty 0.80% buyer
Real Estate Agent’s Fee ISK1,350 (€16) buyer
Costs paid by buyer 2.40% - 3.40%
Costs paid by seller 0% - 0%
ROUNDTRIP TRANSACTION COSTS 2.40% - 3.40%
See Footnotes
Source: Global Property Guide



Footnotes to Transaction Costs Table

The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.

Real Estate Agent´s Fee:
Real estate agent’s fee is generally around 1.50% to 2.50% of the property value.

Stamp Duty
The stamp duty rate for property transfers is ISK2,000 (€15) plus 0.80% of the official real estate valuation of the property. The official real estate valuation of the property is usually lower than the purchase price or the market value of the property.

Registration Fee:
Registration fees are around 0.10% of the property value.






Comments


Be the first to comment on this article!



Login or Register to submit a comment!

In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.



Compare Countries



Free Newsletter

Fortnightly updates from the global property arena directly to your inbox.


Email Address:





Connect to professional advice in Iceland





PROPERTY RECOMMENDATIONS

 
Download free property reports from international research houses

Our Newsletter

 
Fortnightly updates from the global property arena directly to your inbox.

Manage subscriptions