The article below reflects the information available when it was published. Please see the updated booking rules, prices and fees and Rental Days. Each owner's agreement determines their rights and payment terms.
You can now take possession of the first Heimkoma house
Heimkoma has started handing over the first houses to owners.
You can now join Heimkoma's first community, start booking your days and enjoy the first house straight away.
How do handover and payments work?
We have designed the process with one goal in mind:
trust and security for owners.
Property handover
Heimkoma's first community consists of three houses.
They are handed over in three stages.
House 1
Already ready, so owners can take possession and start using it immediately.
House 2
Will be handed over in early June after Heimkoma completes refurbishment and furnishing.
House 3
Will then be purchased and handed over to owners this autumn.
The community develops step by step as the houses are added.
You pay when each house is handed over
Payments follow a simple rule.
You only pay for houses that have been handed over.
If you join the community now, you pay only for house 1, which is already ready for handover.
When:
- house 2 is handed over in June, you pay that portion
- house 3 is handed over in autumn, you pay the final portion
The estimated price for a share in the community is ISK 33–36 million, giving access to three holiday properties and 12 weeks per year.
Funds go into an escrow account at Arion Bank
To protect owners, payments never go directly to Heimkoma.
All funds go into an escrow account at Arion Bank.
They are held there until the loan used to purchase the house has been fully repaid.
This means the bank holds the funds until the house in which you are buying a share is debt-free.
All Heimkoma houses will therefore be debt-free when the community is fully funded.
You can join before the third house is purchased
You can currently view:
- house 1, which is already in use
- house 2, due for handover in early June
You can therefore join the community even though the third house has not yet been purchased.
When the third house is presented, owners have 30 days to decide.
Anyone who then decides to withdraw receives a refund from the Arion Bank escrow account.
If you have used the houses
If an owner has already stayed in the houses in use, only the actual cost of the stay is deducted.
That cost is:
EUR 200 per night
for the nights spent in the houses already in use.
This is approximately 25% of the houses' market rental rate.
How the process works
- You decide to buy a share in the community
- Your payment goes into an escrow account at Arion Bank
- Houses are handed over as the community develops
- You start booking your days and enjoying the houses
Meanwhile, your funds remain in the bank's custody until the houses are debt-free.
You can join now
With the first house in use and the second approaching handover, Heimkoma is now welcoming new owners.
Those who join early also have the widest choice of dates, especially for summer.
Would you like to learn about Heimkoma?
If you are interested in becoming an owner in the first Heimkoma community, find out more here