Icelandic news translated into English

November 6, 2008

Auctions as many as in the whole year 2007

Filed under: economy — newsfrettir @ 6:26 pm

Forced auctions of properties in Reykjavik were 49 in October, wich is almost five times more than the same month last year. First 10 months of this year the forced auctions are almost as many as in the whole year of 2007, or 135 compared to 137 in 2007. The year 2006 there were 90 forced auctions in the jurisdiction, that covers Reykjavík, Seltjarnarnes, Mosfellsbær and Kjósarhrepp.

Requests of forced auctions are on the other hand as many as at the same time last year, or around 2000. Registered requests for forced auctions because of properties were 2484 in 2007 but are over 2000 after the first 10 months of this year.

According to the information the sheriffs department gave out 70 cars were auctioned in October, and since January 409 cars have seen the same destiny. It is almost as much as the whole year in 2007 when 419 cars were auctioned. In total there were registered 1971 requests for forced sales of cars, but in the end of September this year there were almost 1600 requests.

The shrinkage in the real estate market in the capital area is clearly visible in the numbers from the public office for registrations. In the end of last October the registration requests were over 34 thousand, which is a third less than same time last year when requests for registrations were close to 53 thousand.

(News Article by ÞÖK)
Original Article in Icelandic

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