Loftsælu

Loftsælu is a term used in Icelandic to describe the act of selling or renting out air rights. This concept involves the transfer of ownership or usage rights of the airspace above a property, distinct from the land itself. Loftsælu can be utilized in various urban planning and development contexts. For instance, a property owner might sell their air rights to allow a neighboring building to be constructed taller than would otherwise be permitted by zoning regulations. This transaction allows the buyer to maximize their building's vertical potential while the seller receives financial compensation.

In some cases, loftsælu can facilitate the development of infrastructure projects. For example, the airspace above a public roadway or railway could be sold or leased to a developer for the construction of a bridge, a building, or other structures that extend over the existing infrastructure. This method can generate revenue for public entities and enable denser, more efficient land use in urban areas. The legal framework surrounding loftsælu can be complex, often requiring specific agreements and adherence to local building codes and property laws. The specifics of loftsælu transactions vary significantly depending on the jurisdiction and the nature of the properties involved. It is a mechanism that allows for creative solutions to space constraints in densely populated areas.