húsnæðisbýli
Húsnæðisbýli is an Icelandic term that translates to "housing cooperative" or "housing collective." It refers to a form of housing development where a group of individuals or families come together to plan, finance, and construct their own housing. The core principle is shared ownership and collective decision-making throughout the development process and often into the ongoing management of the property.
In a húsnæðisbýli, participants typically pool their resources to purchase land and engage architects and builders.
Once the housing is built, ownership is usually structured in a way that reflects the cooperative model.