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. This collaborative approach can lead to lower costs compared to traditional development, as the future residents have direct control over design, materials, and construction methods, eliminating developer profit margins. It also allows for a high degree of customization to meet the specific needs and preferences of the residents.

Once the housing is built, ownership is usually structured in a way that reflects the cooperative model. Residents typically own their individual units, but the cooperative entity often retains ownership of the land or common areas. This allows for shared responsibilities and costs related to maintenance, repairs, and the management of communal facilities. The cooperative model fosters a sense of community and shared responsibility among residents, encouraging social interaction and mutual support. Húsnæðisbýli are seen as an alternative to conventional housing markets, emphasizing affordability, community, and sustainable living practices.