629 properties sold since the beginning of the year
The Housing Financing Fund (HFF) has sold 629 properties during the first quarter of 2014. The Fund sold 36 properties during the same period in 2013. Included in this figure are the more than 500 apartments that were sold to the rental company Klettur. In addition to the above 629 properties, the Fund has accepted purchase offers for an additional 93 properties, and the bidders are currently engaged in financing the purchases. A further 1,028 properties are in the sales process, most of which have been listed with real estate brokers. Work is curently underway in completing the sales registration of all properties that can be registered for sale. The HFF currently leases 919 apartments in various locations in Iceland.
By the end of March, the amount of defaulted loans to individuals amounted to ISK 4.3bn, with the underlying loan value amounting to ISK 65.3bn, or approximately 10.19% of the Fund’s loan portfolio to privately owned homes, as compared to 13.18% in March 2013.
The HFF’s payments due to HFF bonds and other liabilities amounted to ISK 7.9bn in March. Prepayments in March amounted to ISK 2.4bn, as compared to ISK 1.8bn in February. This increase between months is first and foremost attributable to prepayments made by legal entities.