Wed, 30 May 2012 09:21:05 GMT
Island moving towards next property bubble
The crisis management strategy in Iceland is making the next property bubble, National Registry warned on Wednesday. The value of new homes has jumped to a record high last quarter. The prices have accelerated 40.1% compared to the last quarter of 2010. The average housing prices have gained 11.3% compared to a deepest downturn period in 2009. Analysts warn the current price development may result in