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Iceland Real Estate Market Heating Up

Iceland Real Estate Market Heating Up for BC Buyers?

Iceland Real Estate Market - Mortgage

That’s a headline you probably didn’t expect to see on a BC southern interior mortgage brokerage blog, right? But if you’ve been following the adventures of the Okanagan Valley’s most well-traveled broker it may not come as a surprise. Over the last 365 days or so, Rene Carloni has been to the U.S. South (here and here), Southern California (here), Amsterdam (yes, Amsterdam) and a slew of other destinations. What’s the reason for perpetually draining his AirMiles account? It’s all for you, the BC buyer who is in the market for a second/vacation property that is far removed from home. So with the summer of 2024 fast approaching, there was only one place that Rene had in mind for his next expedition; Iceland.

Say what?

While the name sends a literal shiver up the spine for the uninitiated, those in-the-know understand what Carloni is up to by venturing way up north. Read ahead to learn more.

Why the Iceland Real Estate Market is a Hot Commodity for BC Vacation Home Buyers


Affordable Luxury

Does a “Stunning modern villa on the outskirt of Reykjavik” sound absolutely magical? If you add 5-bedrooms, 2 bathrooms, and nearly 2,200 square feet of living space to the mix for just over $1 million it certainly does! If you want to keep things significantly lower than that mark, have a look at the cottage property below, which is currently listed in Selfoss Iceland at just $780,000 (courtesy of JamesEdition.com)

Iceland Real Estate Market

These listings are just examples of luxury properties that Rene Carloni can help BC buyers get favorable mortgages for. Give Rene a ring at 250.493.9111 for a casual chat about Iceland real estate opportunities (homes or condos) for BC residents.

Scorching Hot STR Income Earning Potential

In an effort to boost the budding tourism market in Iceland the government has allowed the short-term-rental (STR) market to thrive in a way the mitigates business entities from exploiting the system (which pushed individual property owners out of contention). In the spring of 2024, Minster of Culture and Business Affairs Lilja Alfreðsdóttir passed a law stating that businesses are no longer allowed to rent out units classified as residential housing on short-term rental sites such as Airbnb. This is great news for vacation home buyers who plan to take up part-time residence (even just a few weeks of the year) in the mystical land, while earning income on the STR market when they are not there. With zero competition from such business entities, homeowners will be able to increase occupancy rates and reap the financial reward!

Iceland Real Estate - Penticton Mortgage Broker

Iceland Will Change Your Life

Favorable buyers market in Iceland aside, vacation home buyers in BC need to know that the region is truly extraordinary. Between the world famous thermal bathes of the Blue Lagoon and monolithic Leif Erikson (viking and Norse explorer) monument (both pictured below) to the wondrous Thingvellir National Park and The Great Geysir along with the regular occurrence of Aurora Borealis over Reykjavik, you’ll be hard-pressed to find a more supernatural place on the planet. Everything above is just the tip of the iceberg for how Iceland will change your life.

Note: Fret not, as Iceland also has the comforts that will make you feel not-so far removed from civilization, like a Hard Rock Cafe Reykjavík. and Dunkin’ Donuts (etc.).

Iceland Real Estate for BC Buyers

Images taken by the Carloni clan in Iceland


Ask About Mortgage Opportunities in Iceland

(BC Residents)

CALL 250.493.9111