Pálmholt - Tenants' building society

Pálmholt - Byggingafélag Leijenda was founded in May 2023 by the Leyjendassamgement. Is the company intended to develop real estate projects for the non-profit rental and option market. The model is applied to the neighboring countries, where a large part of housing development takes place in the form of cooperatives and under the wing of non-profit rental companies that rent out housing at cost price.

The goal is to develop real estate projects that will be realized in associations or non-profit organizations that will own and operate the apartments, but in this way they will be prevented from ending up on the voluntary purchase or rental market. With this arrangement, the apartments will be owned by the tenants or those who have the right to purchase. The rent will only and always reflect the actual cost of construction and operation.

Approximately 17,000 apartments have been built in cooperative form in Iceland. Due to changes in the law in the 1990s and 1990s and again in 2016, however, it has proved difficult to establish and run housing or construction cooperatives in this country. The tenants' association has called on the government to improve the legislation so that it will be possible to establish and operate housing cooperatives and building cooperatives.

Housing and building cooperatives are very common throughout Europe. This arrangement in the construction and operation of housing is also in great demand globally as a reaction to the increasingly extensive financialization of the housing market. The International Association of Housing Cooperatives is working to strengthen this structure and operating form.

International CooP Housing. At the bottom of the page are some examples of housing cooperatives in neighboring countries: