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.
Heimkoma starts with a simple idea: people should be able to own a quality property in proportion to how much they expect to use it. We are now bringing this idea to Reykjavík.
Heimkoma Reykjavík is a new way to own your place in the city. Buyers acquire one of eight ownership shares in a quality apartment, receive six weeks or 42 days of use per year, and share costs and operations with other owners. Heimkoma handles operations, management and maintenance.
The first apartment has already been purchased in a new development at Laugavegur 170 in Heklureitur. It is under construction, with handover planned for early 2027.
A third option for people who need a base in Reykjavík
Many people regularly visit Reykjavík for work, meetings, healthcare, family, culture or leisure without living there full time. Their options have often been to pay for accommodation on every trip or buy a whole apartment that remains little used for much of the year.
Heimkoma Reykjavík adds a third option: your own place, with investment and running costs shared among others with similar needs.
How Heimkoma Reykjavík works
The arrangement is clear:
- The buyer acquires one of eight ownership shares in the apartment.
- Each share includes six weeks or 42 days per year.
- Owners book days through a simple system with rules on stay lengths and fair allocation of popular periods.
- You can buy more than one share if you need more time.
- Heimkoma handles operations, management and maintenance.
Booking rules and ownership details are explained before purchase. This is not an accommodation subscription or a traditional timeshare. The buyer owns a share in the property.
Less capital tied up, with usage to match your needs
Buying an entire Reykjavík apartment ties up substantial capital. If it is only used for part of the year, owning and running the whole apartment may not be the most sensible choice.
With Heimkoma Reykjavík, buyers own the share they need, receive six weeks or 42 days per year, and share running costs with other owners. If their needs grow, they can buy more than one share.
The goal is ownership in proportion to use.
The first apartment at Heklureitur
Heimkoma has purchased its first apartment at Laugavegur 170 in Heklureitur. The choice prioritised a central location, design, materials and professional construction.
According to the project information, features include:
- floor-to-ceiling windows and good natural light,
- underfloor heating,
- bespoke Italian cabinetry,
- quality appliances,
- and materials suited to long-term use.
The property must also suit co-ownership and meet Heimkoma's H-Class standard , covering quality, durability, equipment and regular inspections.
A fully equipped apartment — everything in place
The apartment will be fully furnished and equipped with appliances and household essentials. Owners will not need to furnish or equip it together: the aim is to have everything ready when they arrive.
Updating equipment is part of maintenance. Heimkoma manages repairs and replaces furniture, appliances and household equipment when damaged, worn or outdated. These costs form part of property operations and are shared under its operating arrangements.
Who is Heimkoma Reykjavík for?
The arrangement may suit:
- people outside the capital region who regularly visit Reykjavík,
- Icelanders living abroad who want their own place when visiting home,
- businesses that regularly send staff or partners to the city,
- and others who need quality accommodation in Reykjavík for part of the year.
The apartment can be used for work trips, meetings, medical appointments, family visits, events, longer stays and city weekends. Companies can purchase shares in the same way as individuals, including multiple shares if they need more time.
The arrangement may also interest international buyers who want to own property in Iceland without purchasing and running an entire apartment.
Heimkoma handles operations
Co-ownership needs a clear framework. Heimkoma handles daily operations, regular inspections, maintenance, repairs, insurance, administration and coordination between owners.
Owners see available dates and choose their time in a simple booking system. Shared rules support fair allocation.
Owners can focus on the reason they bought the property: using and enjoying the apartment.
Flexible use of your days
Owners can use their days for shorter trips or longer stays within the booking rules. If they do not expect to use all their days, they can choose rental under the arrangements Heimkoma offers at the time.
Heimkoma owners may also request participation in the THIRDHOME partnership. An approved unused week can be made available in return for travel credits to book available stays elsewhere. Participation is optional, and availability, fees and terms apply.
The first apartment is on its way
The first Heimkoma apartment in Reykjavík has been purchased and is under construction at Laugavegur 170 in Heklureitur. Handover is planned for early 2027.
Register your interest now to learn more about ownership, bookings and next steps. Registration carries no obligation.
Register your interest in Heimkoma Reykjavík
Heimkoma Reykjavík: one of eight ownership shares, six weeks or 42 days per year and professional management. You own and enjoy. We take care of the rest.