Real Estate

Housing Development

  • Recent growth in the Westfjords' economy, driven by tourism and aquaculture, necessitates increased housing construction in the area.
  • Growth is expected in core industries along with related service sectors in the coming years.
  • Property prices in the Westfjords have been rising in recent years and will align with construction costs.
  • There's a significant need for suitable rental housing for newcomers wanting to move to the growing region.
  • Need for suitable housing for older residents looking to downsize.

Tunnels

A new approach to infrastructure financing is necessary. Municipalities in the Westfjords are open to a mixed method of financing infrastructure projects.

  • Greater benefits for communities come from having toll tunnels, which enhance safety
  • Public-Private Partnerships (PPP) are considered suitable for large and well-defined projects
  • Tunnels will strengthen activities in fisheries, aquaculture, and the development of year-round tourism
  • Municipalities in the area agree on transportation projects in the Westfjords

Direct Foreign Investment

International Investment Environment

The turnaround in the Westfjords' economy in recent years is largely due to foreign investment. The Westfjords have benefited from direct foreign investment and will continue to seek further investments.

Examples of foreign investments in the Westfjords include:

Foreign investments have shown that the Westfjords offer good and profitable investment opportunities for the future.

Strategic Investments for a Thriving Economy

Fostering Development in the Westfjords

In the Westfjords, the economy is growing, and there is a need for investments in infrastructure. Based on current conditions, investments are profitable. The advantages of the Westfjords include:

  • Aquaculture in the Westfjords is expected to increase.
  • An increase in tourists with the introduction of the Westfjords Route.
  • An active cultural life and high level of service.
  • A general awareness of the importance of sustainability and environmental protection.
  • A community that is open and accustomed to welcoming new people.

Municipal governments in the Westfjords are open to and seek mixed methods of financing for essential projects.

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