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Farm-Village

Bugardabyggd ehf. has planned and developed “Farm Village,” a completely innovative form of land use in Iceland that is unlikely to be available in the future.

Farm Village is a unique land-development project consisting of 730 ha of land divided into 380 plots and located 4 km from the capital of South Iceland and 55 km from the national capital of Reykjavik.

All of the plots are large -- ranging in size from 10,000 to 125,000 m2 -- and owners will have access to all modern services. Buyers are authorized to build a dwelling of up to 1800 m2, along with a guesthouse and outbuildings. Land is sold with finished roads, and the area has walking and riding paths and access to municipal water and district-heating systems, the latter being used to heat homes, greenhouses, and hot pools. One particular advantage is the availability of fibre-optic cable in Farm Village. Such advanced technology is not always available in cities and is unknown elsewhere in the countryside.

Buyers have been very pleased with the area, and those who have already moved to Farm Village confirm that all services provided by the Arborg municipality meet top standards.

It is highly advantageous that the Arborg municipality provides all services in Tjarnabyggd, including road maintenance, water distribution system, school-bus service and refuse collection. It is also a great luxury -- and virtually unique in Iceland -- that people can live in beautiful and peaceful country surroundings and still be close to the city and take advantage of all of the services available in urban areas, including school buses for their children.

Investors now have an opportunity to purchase the well-run real estate company that owns these valuable properties, which will undoubtedly increase considerably in value in the future due to their unique position on the housing market and home-buyers’ increasing demands for quality of life. The company is well managed and financed, and it is also an advantage that one stage of development is complete and several lots are ready for sale. The company has acquired all the necessary licenses and concluded all contracts for services. Land-use plans for the entire area have been completed and approved, and all engineering design for future infrastructure has been completed.