Íbúðalánasjóður - Company Announcement

Monthly report February 2014

Increase in property sales at the beginning of the year

The HFF‘s monthly report for February 2014 has been published. As stated in the
report, the Fund has sold 584 properties in the first two months of the year,
the biggest part of that being the 517 properties sold to the rental company
Klettur. The Fund has also seen an increase in traditional property sales, i.e.
apart from the aforementioned sale: 67 properties were sold in January and
February this year compared to 22 in the same period last year. 

Nearly half of the properties in the Fund's portfolio are in the process of
being sold, or 1,017 properties out of 2,111, most of which are already
available for purchase. 881 apartments throughout the country are rented out by
the Fund. 

The number of households in arrears increased slightly between January and
February. A total of 7.15% of households with property loans from HFF were in
arrears at the end of the month, rising from 7.05% in January. The
corresponding percentage in February 2013 was 9.23% so this slight increase is
a deviation from a trend of decreasing defaults in the past year.

Attachments:

monthly report february 2014.pdf