Data sources and limitations
Faroese house sales prices are disseminated each quarter. House sales statistics are based on public registration figures, which include all house sales. The prices provide an indication of the average cost of properties, with the figures adjusted for a number of factors, including:
- Building plot
- Rental properties
- Properties on plots smaller than 250 square metres
- Properties on plots larger than 1,000 square metres (because it is assumed that the price of the plot plays a significant part of the sale)
Property sales regarded as deviating from market conditions, for instance when prices are unusually low in transactions between family members
- Properties sold at an unusually high price
- Properties sold by order of the court
With these limitations, the figures represent the free-trade price of an average residential house
The capital, towns and villages
Tórshavn: Tórshavn, Hoyvík and Argir.
Towns: Klaksvík, Runavík, Glyvrar, Fuglafjørður, Gøta, Kollafjørður, Vágur, Tvøroyri, Froðba, Trongisvágur, Miðvágur and Vestmanna.
Villages: All towns and villages not mentioned above.