Iceland won’t stay this cheap forever

If you're looking for a cool second home, Iceland might be the place for you, says Liz Rowlinson in the Daily Mail. Not only is Iceland, and its capital Reykjavik in particular, increasingly fashionable as a holiday and party destination, but British buyers are beginning to snap up holiday homes there too. And for good reason: given the recent fall in Iceland's currency (the krona) relative to the pound, properties there are excellent value.

Houses near Reykjavik's main shopping street start at around £135,000 and larger family homes come in at around £210,000. A one-bedroom, new-build luxury apartment will cost around £200,000. Reykjavik agent Akkurat (00 354 594 5000) has an elegant 100 square metre, three-bedroom flat with a large balcony and views for £194,000 in the fashionable 101 area. Valholl (00 354 588 4477) has an eight-bedroom house in the east of Reykjavik, which was built in the 1970s and is in need of renovation, for £354,000. And Hofdi (00 354 533 6050) has a one-bedroom apartment on offer for £43,400, also in the 101 area. Try getting that kind of space for that kind of money anywhere else in Europe.

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