The basic conditions for purchasing land owned by the state, according to the requirements set out in the Ministry of Finance and Economic Affairs’ procedural rules on the use of the authorization in Article 6 of the Budget Act for the sale of summer-house plots, residential plots, and land parcels owned by the state (dated 7 July 2020), are as follows:

• The buyer, or a related party, must have leased the plot for 15 years or longer

• The plot must be smaller than 20 hectares

• The buyer must have built a structure on the plot or used it together with other adjacent land they own

• The plot must continue to be used in the same manner after the purchase

If you meet these conditions, you may submit a formal application to FSRE at fsre@fsre.is with the following documents:

• Name and ID number of the tenant

• A copy of the plot lease agreement

The case will then be formally processed, registered as an inquiry, and taken under review.