New Construction Count and Lot Availability
The Federation of Icelandic Industries puts considerable effort into driving between construction sites and counting new buildings under construction each year.
Friðrik Ólafsson, Business Manager at the Construction Division of the Federation of Icelandic Industries, discusses the counting of new constructions with Ólafur Ástgeirsson, Division Manager at IÐA. It seems that the parties involved in housing construction do not have this figure in one central place.
“The Real Estate Registry should, of course, keep track of such counts, but in our opinion, their figures are completely wrong,” says Friðrik, because information is not reaching them as it should.
“The Federation of Icelandic Industries protects the interests of its members and companies,” says Friðrik, and as an example, all master craftsmen's associations in the country are members of the Federation, except for one. “Counting buildings is therefore very important for the Federation's members, not least with regard to project financing. Financial institutions must have access to accurate information to be able to make realistic decisions regarding financing; it is not acceptable if projects are halted on incorrect grounds.”
In 2007, he started driving between construction sites and counting new buildings according to certain standards, but now the Housing and Construction Authority is collaborating with the Federation on the count.
In this podcast, he and Ólafur cover a wide range of topics, including the supply of plots in the capital area and neighboring municipalities. There, the discussion has revolved around, among other things, supply and financing.
