On 28 January 2012, the Icelandic Minister of the Interior, Ögmundur Jónasson, announced that he will submit a bill to the government proposing the non eligibility of foreigners to own properties in the country, unless they have a legal domicile there. The new measure would also apply to EEA citizens, who are currently free to acquire property in Iceland.
The measure, if implemented, is expected to have an adverse impact on foreign direct investment in real estate.