The Definitive Guide to Luxury Real Estate in The Faroe Islands

Welcome to The LuxuryAbode's Faroe Islands luxury homes and real estate guide. Explore our collection of the most opulent real estate projects, hand-picked professionals, most costly villas, luxury resorts for sale, penthouses for rent, and luxury holiday rentals in Faroe Islands.

Find the best luxury real estate in Faroe Islands including some of the best luxury vacation rentals in Faroe Islands on Luxury Abode.

Some of the best luxury real estate brokers in Faroe Islands include Betri Heim, Skyn and others.

The Faroe Islands are an autonomous archipelago belonging to the Kingdom of Denmark. It consists of 18 rugged, volcanic islands in the North Atlantic Ocean between Iceland and Norway, which are linked via road tunnels, ferries, causeways, and bridges. The islands' mountains, valleys, and grassy heathland, as well as their sheer coastline cliffs that are home to hundreds of seabirds, attract hikers and birdwatchers.

The total land area is 1,399 square kilometres, a sea area of 274,000 square kilometres, and a population of 50,000. 

Faroese is the official language of the Faroe Islands. It is a Nordic language derived from the language of the Norsemen who colonised the islands around 1200 years ago. 

The name Froyar (Faroe Islands) is taken from ancient Norse and meaning "Sheep Islands"; it was given by Viking immigrants.

The Faroe Islands are an independent country that falls under the external jurisdiction of the Kingdom of Denmark. In a variety of sectors, the Faroe Islands enjoy exclusive authority to legislate and administer autonomously. These include the conservation and administration of live marine resources, environmental protection, subsurface resources, commerce, taxes, industrial relations, energy, transport, communications, social security, education, and research.

A legally ratified treaty between the Faroe Islands and Denmark grants Faroese autonomy in international affairs. 

Despite the fact that Denmark is a member of the European Union, the Faroe Islands have elected to stay outside of the Union. Consequently, the Faroe Islands negotiate their own trade and fisheries agreements with the EU and other nations, and actively engage in a number of international fisheries management systems and organisations.

The population is dispersed among seventeen islands, with forty percent residing in the capital, Tórshavn.

Participation in all facets of local community life is a defining characteristic of the Faroe Islands. This promotes social cohesiveness and a strong feeling of regional identity. The infrastructure of the Faroe Islands is highly developed: telecommunications and high-speed internet, as well as a comprehensive road network, tunnel, and ferry connections, provide an excellent foundation for sustaining the economic, social, and cultural vitality of communities throughout the country.

The Faroe Islands, which are ideally located between Europe and North America, are just a couple of hours' flight from the major cities of Northern Europe. There are daily flights, ferries, and freight linkages between the Faroe Islands and all bordering nations.

The Faroe Islands have a highly educated populace, with free elementary and secondary education for everybody and a variety of institutions for further education and research. Before settling down in the Faroe Islands, many young Faroese spend time studying and working overseas in a variety of areas. With the mobility and adaptability typical of many island countries, the Faroese have preserved and fostered a wide international viewpoint in today's globalised world for centuries.

Tórshavn, the capital and biggest city of the Faroe Islands (1,3083 inhabitants), is located on the east coast of Streymoy Island behind a bustling port. Within the 66.8-square-mile city are churches from the seventeenth century, a few of museums, a little Old Town, and rows of colourfully painted homes.

The archipelago has the dramatic landscapes characteristic of volcanic islands, including windswept mountains, crashing waves, and jagged coasts, such as the rock formations of Drangarnir, the name of two sea stacks located between Tindhólmur and Vágar.

Despite their distant position and harsh terrain, vehicle trips and island hopping around the archipelago are simpler than you may think. Due to relatively modern infrastructure, such as subsea tunnels linking islands and paved highways cutting through mountains, it has been reasonably simple to reach the country's top attractions since the early 2000s.

Can foreigners purchase real estate in the Faroe Islands?

In recent years, an increasing number of visitors to the Faroe Islands have investigated the possibility of purchasing property on the Nordic archipelago. This option is no longer available.

On 7 December 2021, the Faroese Parliament, Froya Lgting, passed a bill prohibiting foreigners from purchasing real estate in the nation. Prior to the implementation of the new legislation, there were no restrictions on foreign nationals owning or purchasing a property or land in the Faroe Islands.

The Prime Minister's Office announced in an official press release (in Faroese only) that the number of persons permitted to purchase property in the Faroe Islands has been reduced from 8 billion to 6 million. Currently, only citizens of the Danish realm may purchase property in the Faroe Islands.

The new rule states that foreign people with no ties to the Danish Kingdom are prohibited from purchasing property in the Faroe Islands without prior authorization from the government. Foreigners must have lived in the Kingdom of Denmark for at least five years prior to purchasing property.

You cannot purchase property on the island group. The best options would be to book some of the best luxury vacation rental homes in Faroe Islands including a cabin and explore the islands to your heart's content.