Reykjavík, Iceland

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This 3160 sqm strategic site is in a prime coastal location within the city center of Reykjavik. It is connected by all transportation modes and enjoys a unique surrounding landscape including Mount Esja, the gorgeous sea shore, and Hallgrímskirkja church which is Reykjavík’s most known Landmark. This unbuilt site, currently used as a car park, offers a perfect opportunity to develop new innovative approach for housing in Reykjavík.

Frakkastígur is a well-connected site in a prime coastal location within the city center of Reykjavik. This area is in many ways “the face” of the city.

Frakkastígur offers indeed a very strategic localization in the capital of Iceland heart crossing the main shopping street Laugavegur. It is already connected by all transportation modes, and the high level of service Borgarlína – City Line is planned to run along nearby Hverfisgata, close to the site. Last but not least, the surroundings offer a unique landscape, composed by Mount Esja, the gorgeous sea shore, Hallgrímskirkja church which is Reykjavík’s most known Landmark, and the highest housings in the City.  

The site is a 
3160 sq. m. unbuilt plot currently used as a parking. It offers a perfect opportunity for new way to approach housing in Reykjavík, connecting the old with the new and by creating an interesting, resilient and fresh typology.

Bidders should adress the challenge of creating a frame for sustainable and decarbonzed living for the inhabitants, taking into account the municipal objective to create a coherent urban area with a city-oriented street system where environmentally friendly travel modes are a priority.


Find at the following link the webstream of the event organized in Reykjavik on 7th March :

Expected program
The area is mostly residential, so residential housing is the suggested program. Mixed-use, commercial, service or any function that might be found in a downtown area can also be considered.

The program should make use of the unique position of the site in the city center and have less parking, versatile apartments and create a frame for sustainable living for the inhabitants.

City of Reykjavík.

Plot area
Approx. 3160 sq. m.

Type of property transfer intended
Land lease agreements in Reykjavík are for 50 years.
Note that in general, all land lease agreements are renewed after the duration of 50 years. If they are not renewed, there has to be a great need for changes in land use, for example, from industrial to residential. In such cases the owner is reimbursed for the buildings on the land according to a valuation of an independent real estate company.
Reykjavík Iceland


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