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Prices in Iceland | How much do things cost in Reykjavík?

How much does accommodation cost in Iceland?

The price checks were all carried out for 2 adults sharing a room downtown in Reykjavík.
If you are going out of the city center, which can be great if you have a car rental, then the prices are going to go down. So, if you are staying out of town you can cut your accommodation budget by around 30-50%!

Hotel prices in downtown Reykjavík – Iceland

Reykjavik city pond

ISK: 15.550 ISK – 53.000
EURO: 125 – 426
DOLLAR: 495

The above prices were checked out searching on www.booking.com for a twin room for the 1st of July 2018.

As you can see the prices vary quite a lot. This is largely due to the numerous new hotels which have risen that offer accommodation in the luxury range. There are certainly more of the kind of room which commands a higher price in Reykjavík than there used to be. The average price would be between 25.000 ISK – 35.000 ISK for a decent hotel room for two in the capital.


Cheaper hotels in downtown Reykjavík – Iceland

February in Iceland

The shoulder seasons of March / April and September / October can often offer some bargain prices. Searching booking.com for the 1st October found some cheaper hotel and guesthouse rooms.

ISK: 12,154 – 46,662, plenty of rooms at good city hotels at 15,997 – 23,088
EURO: 100 – 384, plenty of rooms at good city hotels 130 – 190
DOLLAR: 123.96 – 476.00, plenty of rooms at good city hotels 161.15 – 235.52

Choosing your dates carefully can make a real difference to your accommodation costs. Booking last minute can be quite risky in Iceland, throwing up a fabulous bargain, or leaving you with a few quite expensive and/or inconveniently located accommodation.


Hostel prices in downtown Reykjavík – Iceland

kex-hostelPhoto from Kex Hostel Facebook page

Dormitory style accommodation was checked out at Loft hostel, Kex Hostel, Bus Hostel, Reykjavik Downtown Hostel & Reykjavík Hostel Village for the 1st July 2018:

ISK: 4.000 ISK – 9500
EURO: 32 – 75
DOLLAR: 37 – 88

These hostels all offer private rooms too. A standard twin room at Kex Hostel would cost around 26,900 ISK (Euro 221 / USD 274) on 1st July and just 20,900 ISK (Euro 172 / USD 213) on 1st October – so it is still a little cheaper to stay in Spring or Autumn!

The hostels that are more expensive are usually the “nicer” ones, offering a nice bar, restaurant or a good café and places to hang out, often there will also be live music or events going on.

My Reykjavík favorites are Loft Hostel and Kex Hostel, both have lively and cozy bars and very individual styles – there is always plenty going on but you can just chill out if you want. Loft offers soups and light refreshments, Kex serves tasty pub style meals and snacks..

Some hostels which are less stylish, but still comfortable, and not quite in the heart of the city offer cheaper private rooms, so again it depends what is most important to you. Another site which is very useful for researching hostels is www.hostels.is, particularly when you want to arrange stays at various points around Iceland. Not all hostels are listed, though, so it is always best to check www.booking.com as well.

Museums- n Akureyri

The hostel at Stórholt, Akureyri is my absolute favorite place to stay outside of the capital. Not quite in the center of Akureyri, it has great views of the mountains and is particularly good value. On 1st July a twin room would cost:

ISK: 14,400 – 15546
EURO: 118.53 – 127.96
DOLLAR: 146.94 – 158.63

A higher price gets you a larger room, pay more and you can even have a private bathroom. Stay on the 1st October and you will pay less:

ISK: 8,872 – 11,548
EURO: 73 – 95
DOLLAR: 90.61 – 117.78

You do need to check out each individual hostel, their prices, also their facilities vary quite a bit. You can finish up paying more or less in really remote places – there is no hard and fast rule!


Guesthouse prices in Iceland

Reykjavik capital of Iceland

Guesthouses are often charming, many offer similar facilities to a small hotel. Quite a few have guest kitchens, cooking for yourself is another great way to keep costs lower. Again the prices were checked out for the 1st July. You can normally find lower prices in Spring and Autumn.

ISK: 11,545 – 18,228
EURO: 95 – 150
DOLLAR: 117.81 – 186.01


Airbnb prices in Iceland

Icelandic Housing

There is a huge range of Airbnb accommodation in Iceland, what is available is constantly changing and this market is very season and location dependent. For two people a small private apartment or a two-person room is the best way to go. Check out the facilities, if you opt for the room you may be sharing the bathroom with other guests or your host. Some people who let rooms in this way are happy for their guests to share their kitchen and others do not allow this.

The price you will pay for a private apartment with beds for at least two people in Downtown, Reykjavík is around:

ISK: 12,152 – 16,405 per night
EURO: 100 – 135 per night
DOLLAR: 124.01 – 167.41 per night

If you are willing to stay on the outskirts of Reykjavík it can be easier to find slightly cheaper Airbnb accommodation. Likewise, you can often find lower prices out in the countryside, although in areas where there are a very high demand and fewer accommodation places prices can be pushed up. Spring or Autumn slightly cheaper options are more likely to be found.

If you want to be really central in Reykjavík select “Miðbær” from the filter options.


Campervan prices in Iceland

Driving to Skaftafell national park

Combining your accommodation and transport gives you amazing freedom and flexibility. So, how does the cost of hiring a two-berth campervan from the 1st to the 5th of July 2018 check out?

ISK: 46,168 – 183,824
EURO: 380 – 1,513
DOLLAR: 471 – 1,875

Companies will not normally hire for less than three days, particularly in the summer. The most expensive vehicles come with extras, for example, a shower and/or a roof tent. Standard insurance cover is included, with extra options being available for an additional fee. Some, but not all vehicles, can be insured for driving on F roads. The items that the basic rental fees will cover varies from company to company, so this is something you should check up on too.

Between 1st October and the end of March, these prices reduce by around 33%.


Food, gas and other costs in Iceland

How much does food cost in Iceland?

Bananas Food in Iceland

Iceland is not a cheap country when it comes to food but there certainly are ways to keep costs down. If breakfast is included at your accommodation go for it! If your accommodation gives access to a kitchen you can cut costs a lot, preparing your own food and taking picnics is always going to be cheaper than eating out all the time.

Shopping tips can help a lot – Bónus stores offer the best value, there are a few in the city and, also, in various country towns. 10 to 11 is great if you run out of something essential but it is quite expensive. Krónan and Hagkaup offer a good choice of high-quality produce but they are more expensive than Bónus. You will also find village shops are a little more expensive than city stores, Kjörbúðin and Samkaup are the shops you will find out in the countryside.


Restaurant and café prices:

Vinyl Vegan Restaurant in Iceland

Meal in a cheap restaurant 1,800 – 2,900 ISK (Euro 10.21 – 23.88 / USD 18.38 – 29.61)
Soup and bread 1200 – 2900 ISK (Euro 9.87 – 23.86 / USD 12.25 – 29.61)
3 course meal medium price 5,000 – 7,500 ISK (Euro 41.13 – 61.70 / USD 51.05 – 76.58)
McDonalds or combo meal deal 1,300 – 1,800 ISK (Euro 10.69 – 14.81 / USD 13.27 – 18.38)
500 ml beer 990 – 1400 ISK (Euro 8.14 – 11.52 / USD 10.11 – 14.29)
Standard glass of wine 900 – 1400 ISK (Euro 7.40 – 11.52 / USD 9.19 – 14.29)
Regular filter coffee 350 – 600 ISK (Euro 2.88 – 4.94 / USD 3.57 – 6.13)
Cappuccino 450 – 600 ISK (Euro 3.70 – 4.94 / USD 4.59 – 6.13)


Grocery prices:

grocery-store-iceland

1 liter milk 132 – 180 ISK (Euro 1.09 – 1.48 / USD 1.34 – 1.83)
500g white bread loaf 237 – 450 ISK (Euro 1.95 – 3.70 / USD 241 – 4.57)
1 kg white rice 216 – 510 ISK (Euro 1.78 – 4.20 / USD 2.19 – 5.18)
1 kg pasta 300 – 500 ISK (Euro 2.47 – 500 / USD 2.51 – 5.08)
12 eggs 489 – 800 ISK (Euro 4.03 – 6.58 / USD 4.97 – 8.13)
1 kg boneless chicken 1,400 – 2,600 ISK (Euro 11.52 – 21.40 / USD 14.29 – 26.42)
1 kg beef steak 1,900 – 5,000 ISK (Euro 15.64 – 41.13 / USD 19.30 – 51.05)
1kg oranges, apples or bananas 198 – 495 ISK (Euro 1.63 – 4.07 / USD 2.01 – 5.03)
1 kg potatoes 200 – 369 ISK (Euro 1.65 – 3.04 / USD 2.03 – 3.75)
1 kg tomatoes 349 – 700 ISK (Euro 2.87 – 5.76 / USD 3.55 – 7.11)
1 kg onions 80 – 310 ISK (Euro 0.66 – 2.55 / USD 0.81 – 3.15)
1 kg carrots 350 to 650 ISK (Euro 2.88 – 5.35 / USD 3.56 – 6.60)
Pack of salad leaves 199 – 800 ISK (Euro 1.64 – 6.58 / USD 2.02 – 8.13)
Single lettuce 200 – 400 ISK (Euro 165 – 3.29 / USD 2.03 – 4.06)
Cucumber 150 – 400 ISK (Euro 1.23 – 3.29 / USD 1.57 – 4.06)


How much does wine/alcohol cost in Iceland?

Best Icelandic Beer

Normal strength alcohol is only sold at Vínbúðin stores – the only way to buy alcohol cheaper is to maximize your duty-free limit when you come into the country.

Individual bottle of Brennivín 404 ISK (Euro 3.32 / USD 4.10)
Individual vodka & lemon 779 ISK (Euro 6.41 / USD 7.91)
Individual bottle of wine (187ml) 399 – 650 ISK (Euro 3.28 – 5.35 / USD 403 – 6.56)
Bottle of wine – cheap to middle range 1,500 – 3,000 ISK (Euro 12.34 – 24.68 / USD 15.24 – 30.48)
Bottle of dessert wine 1,899 – 6,164 ISK (Euro 15.62 – 50.71 / USD 19.29 – 62.63)
Medium bottle of brandy 2,299 ISK – 19.898 ISK (Euro 18.91 – 163.69 / USD 23.36 – 202.16)
Bottle of port – cheap to middle range 2,900 – 5,500 ISK (Euro 23.86 – 45.25 / USD 29.46 – 55.88)
Bottle of Brennivín (schnapps) 3,499 – 9,099 ISK (Euro 28.78 – 74.85 / USD 35.55 – 92.45)
Bottle of Harveys Bristol Cream Sherry 3,499 ISK (Euro 28.78 / USD 35.55)
Kirsberry Cherry Speciality Wine 2,899 ISK (Euro 23.85 / USD 29.45)
Bottle Tequila 6,499 – 11,999 ISK (Euro 53.46 – 98.71 / USD 66.03 – 121.99)
Bottle of whisky 5,499 – 14,999 ISK (Euro 45.24 – 123.39 / USD 55.87 – 152.39)
Bottle of best whisky 52,999 ISK! (Euro 435.99 / USD 538.47)


How much does beer cost in Iceland?

Craft beer bar Reykjavík

Craft beer bar Reykjavík

500 ml of beer will set you back between 900 and 1,500 ISK with prices of 1,000 to 1,200 ISK being typical. 1 liter does not cost much more than 500 ml! Happy hour will get you a great reduction on these prices and sometimes a 2 for 1 offer.


How expensive are gas prices in Iceland?

driving in iceland

Many visitors say gas is expensive in Iceland, however, the prices are not very different to those in the UK. People from Norway say Icelandic fuel costs are lower than they are used to. Most other countries have cheaper petrol though.

Petrol prices currently vary between 198.50 to 212.80 ISK per liter, with 210.80 ISK being typical, diesel varies between 192.20 and 206.90 ISK, 203 ISK is typical. Filling up the tank of a small petrol car usually costs 7,000 to 8000 ISK.


How much does it cost to ship a car to Iceland?

The Smyril Line Ferry Company can ship your car from Denmark to Seyðisfjörður, a charming port on a magnificent fjord in East Iceland. The journey from Denmark takes three days the rates given below are per person for two people making a return trip with their vehicle.

Regular car:

  • Winter 52,858 ISK (Euro 435 / 535.46 USD)
  • Low season 66,831 ISK (Euro 550 / 677.02 USD)
  • Middle season 84,451 ISK (Euro 695 / 855.51 USD)
  • Summer 115,436 ISK (Euro 950 / 1,169.40 USD)

Campervan:

  • Winter 83.234 ISK (Euro 685 / 842.25 USD)
  • Low season 106,928 ISK (Euro 880 / 1,082.01 USD)
  • Middle season 184,086 ISK (Euro 1,515 / 1,862.78 USD)
  • Summer 196,237 ISK (Euro 1,615 / 1,985.74 USD)

 


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Prices in Iceland

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