Non-Profit Housing Associations

Illustration of mixed residential and commercial property

The objectives of the City’s Housing Policy and the City’s 2010-2030 Municipal Plan include an emphasis on offering varied housing options and increased housing for all social groups, as well as ensuring social variety within districts. The social mixing of the population and the development of a rental market should be promoted.

The goal is for about 25% of dwellings in each district to be rental units, student housing, housing in building cooperatives, social housing rental units, housing for seniors, and housing for people with disabilities.

Therefore, a key component in the implementation of the City’s Housing Policy is collaborating with dependable non-profit rental companies and co-operative building associations that have the financial resources for developing projects.

The Reykjavik Housing Plan 2017 aimed to build 2,500–3,000 rental and cooperative units in the city over three to five years. An additional 600 apartments for young people and first-time buyers should be added and Felagsbustadir Social Housing should have an additional 600 rental units.

At the moment, non-profit organizations have confirmed plans for well over 3,000 units and residential housing companies have built over 1,300 units in the city.

Goals of Non-Profit Housing Development

Residential Housing Companies Objective
Cooperation With the Trade Union Movement 1,000
Student Housing 1,340
Housing for Seniors and Nursing Facilities 450
Housing in Building Cooperatives 450
Housing for People With Disabilities 110
Total: 3,350
Affordable Housing 600
Felagsbustadir Social Housing 600

Residential housing companies are currently developing 1,227 units according to the City’s Housing Plan, or about 40% of total units in development. In total, the number of units owned by residential housing companies under the Housing Plan is closer to 7,000, or 29% of all units.

The City of Reykjavik has also pursued the development of housing resources for homeless people who need a lot of complex services, and has provided services and housing for refugees and applicants for international protection on the basis of an agreement with the Icelandic government.

The City of Reykjavik also contributes to the development of housing units through the provision of endowment capital and the allocation of residential land.