Victorium Group
Dark exterior of Victorium Residence in Keflavík
OUR PROJECT / ICELANDVictorium ResidenceConverting a house into 4 apartments

ICELAND / PROPERTY PURCHASE AND POTENTIAL

Buying a property
in Iceland?
Review it with us.

Review condition and costs before you buy. A report on the risks, with a personal review call.

View a sample report

Reykjanes and Reykjavík. First call: 15 minutes, free of charge.

Experience.
Our own capital and projects.
9 yearsof Dawid's experience on industrial projects
Since 2018own property projects in Iceland
A personal conversationreviewing the analysis with Dawid Wiktorzak

ICELAND / BUYER SUPPORT

Before you buy.
Know what matters.

Roof, services, available documents and costs after purchase. We separate facts from estimates and identify where a specialist is needed.

One property. A defined scope. Packages from ISK 99,000.

Send the listing and your purchase goals. We confirm scope, access and timing before you order. Other locations are agreed individually.

Compare inspection, negotiation and conversion scope
01

PRE-PURCHASE REVIEW

What are you buying
and what needs work?

A practical review of the property and available materials before you decide to buy.

  • Review of the listing, sales particulars (söluyfirlit) and available plans
  • Inspection of accessible parts of the property, if agreed in the assignment
  • Visible defects, finish condition and signs requiring a specialist's assessment
  • Initial renovation scope, priorities and estimated budget in ISK
  • Questions for the seller and agent, and a list of missing documents
Outcome: a PDF report with observations, risks and next steps
02

NEGOTIATION SUPPORT

Prepare your arguments.
Set your limit.

We help you prepare to discuss the price and purchase terms using the property's condition, expected work costs and available data.

  • Assessment of the asking price against available comparisons, with sources
  • Arguments based on documented defects and expenditure
  • An indicative price range and purchase limit based on your budget
  • A discussion plan and matters to agree with a licensed agent
  • Review of the seller's response within the agreed scope
Outcome: negotiation notes and a discussion with the buyer
03

SUBDIVISION AND CONVERSION

What could change
and does it make sense?

We compare possible uses of the property: the existing layout, renovation or a concept for creating additional living space.

  • Review of the layout, entrances and potential separation of uses
  • Up to three agreed options, including retaining the existing layout
  • Initial work scope, budget and delivery sequence
  • Comparison of projected costs and income where rental is the objective
  • Items to verify: services, safety, design, approvals and registration
Outcome: an options report with a recommendation and conditions for proceeding

A REPORT TO SUPPORT YOUR DECISION

What do you receive?

We adapt the scope to your chosen service. Facts from documents and visits are separated from estimates and matters requiring confirmation.

See the report structure
Five parts of your report
  1. Decision summary - whether to pursue the opportunity, negotiate after further checks or walk away.
  2. Condition and risks - observations, available documents, photographs from agreed visits and unknowns.
  3. Options and costs - scope of work, assumptions, contingency and data sources relevant to the assignment.
  4. Conditions for proceeding - questions, required specialists and formal requirements to confirm.
  5. Report review - a call with Dawid Wiktorzak and one question round within 7 days of the review.

PRICING / ICELAND

Choose the scope.
Know the price.

Final prices in ISK. Each package covers one property. We confirm scope, availability and delivery before the order. Submitting the form is not a purchase.

PRE-PURCHASE REVIEW

Condition and risks

from 99,000 ISK

A practical assessment before making a purchase decision.

  • Up to 100 m²: ISK 99,000, one visit of up to 90 minutes
  • 101–200 m²: ISK 129,000, one visit of up to 2 hours
  • Review of supplied documents and visible condition
  • A list of issues, renovation priorities and preliminary costs
  • PDF report, review call and one question round within 7 days

SUBDIVISION POTENTIAL

Options and solutions

from 179,000 ISK

For buyers and owners considering a different layout or an additional apartment.

  • One property up to 200 m² and one visit
  • Up to three options, including the current layout
  • Initial work scope, budget and delivery sequence
  • Rental assumptions if rental is the objective of the analysis
  • Report, recommendation, formal requirements checklist and review call

FULL PRE-PURCHASE PACKAGE

Buy with a plan

from 249,000 ISK

Property condition, negotiation arguments and conversion potential in one analysis.

  • One property up to 200 m² and one combined visit
  • Review of documents and visible issues
  • Negotiation arguments, purchase limit and review of one counteroffer
  • Up to three options, including the current layout, and an initial budget
  • One report with a recommendation, review call and one question round within 7 days
Online review from 39,000 ISK and additional services

Online listing assessment

ISK 39,000

One property, listing and available documents, a short note and a 30-minute call. No site visit.

If you order a larger package for the same property within 30 days, the ISK 39,000 already paid is credited towards its price. You pay the difference.

Negotiation preparation

ISK 49,000 · add-on

Added to an assessment we have completed: arguments, an indicative price range, a purchase limit and review of one counteroffer. Already included in the full package.

Additional work

ISK 14,900 / hour

Further consultations, options or extensions beyond the agreed scope. We first provide an estimated cost and obtain your approval.

Travel, exclusions and final pricing

What does the price include?

For packages with a visit, travel within Reykjanes is included. Travel to Reykjavík and further locations is confirmed before the order. Specialist surveys, measurements, designs and official fees are agreed and charged separately.

Prices marked 'from' cover the stated basic scope. Larger properties, complex layouts, additional visits or options require an individual quote. The final price and tax treatment are stated in the order confirmation; no extensions are charged without approval.

We confirm the scope and final price before you order.

Scope of visits, negotiations and subdivision assessment

Inspection of accessible elements

The review is visual, without opening up structures or specialist testing. It does not confirm the absence of hidden defects, the operation of services or structural safety. We identify where a qualified specialist's assessment is needed.

Help preparing for negotiations

We prepare analysis and arguments for the buyer. We do not make or accept binding offers on their behalf and do not provide brokerage services. Formal transaction matters should be arranged with a licensed agent or lawyer. We do not guarantee a price reduction.

Potential is not permission to subdivide

We distinguish between changing the internal layout, using an additional apartment and legally creating a separate unit for sale. Each option requires separate verification. The report is not a building design, specialist survey or confirmation that permission will be granted.

Documents and specialists

Before work begins, the required approvals, documentation and registration must be confirmed with the relevant municipality and designer, and ownership matters with an appropriate specialist. Their fees are not automatically included in our quote.

Official information: property transactions · building procedures in Reykjavík. We check the applicable procedure for the municipality where the property is located.

DAWID WIKTORZAK / FOUNDER OF VICTORIUM

I coordinate projects.
I invest my own money.

Explore my projects

I combine technical experience with hands-on investing: buying, renovating and converting properties to prepare them for rental or sale.

For 9 years I have worked on large industrial projects in Iceland as a Maintenance Manager and Project Coordinator. I define work scopes, coordinate contractors and schedules, and monitor costs and progress.

My own projects include an apartment flip in Reykjavík (2018–2019), the Reykjanesvegur conversion (2019–2024) and Hafnargata 48, underway since 2024. My wife and I are building Victorium together.

You review your report with me. I explain the reasoning behind the recommendation, which figures are estimates and what needs confirmation before your decision.

SELECTED PROJECTS

Behind the plan
is experience.

Our own investments in Iceland: from refreshing an apartment to changing the use of an entire building.

HOUSE CONVERSION

One property.
Four apartments.

Hafnargata 48: three apartments in the main building and one in a separate building. The comprehensive conversion covers interiors, services, exterior, roof, windows and doors. The project is in progress.

~200 m²building floor area
4apartments in the project plan
PLANNED FINAL BUDGETISK 80 million

The target for completing the whole project, not a final cost estimate.

RENTAL PLANISK 1.11 million / month

Target rents for four apartments; a forecast, not realised income.

NEXT DECISIONFinalise the remaining work scope

Agree the cost of kitchens, wardrobes, appliances and the last bathroom before further purchases.

What does this example show? Linking the conversion budget to the rental plan and testing the result with lower income and higher costs.

This is an analysis of our own investment in Iceland. The scope of a client report depends on the agreed objective and options.

Before and during the renovation

VICTORIUM RESIDENCE / CHANGE IN PRACTICE

From an existing house
to a new apartment layout.

Photographs from different stages of the same project. We show the actual progress of the work.

Victorium Residence before modernisation, with its original grey exterior
Before modernisation
Victorium Residence with its new dark exterior during ongoing external works
After the exterior change · further work in progress
Starting point

An existing house needing modernisation and a new layout.

Scope

Four apartments, services, roof, exterior, windows and doors.

The owner's perspective

Our own investment: scope decisions and organisation of successive stages.

CHANGING LAYOUT AND USE

Reykjanesvegur

RENOVATION AND PREPARATION FOR SALE

Reykjavík Apartment

BEFORE WE TALK

Frequently asked
questions.

A clear scope from the first contact.

Do I need to own the property already?

No. You can submit a building you are still considering buying. A description or listing link and an indication of your plans are enough to start.

Can I order just a project assessment?

Yes. The assessment is a standalone service. Ordering it does not oblige you to commission preparation or coordination work from us.

Where can we work together?

Iceland: Reykjanes and the Reykjavík area, subject to visit availability. Other locations in Iceland are agreed individually.

How are fees agreed?

Pre-purchase review from ISK 99,000, subdivision potential from ISK 179,000, full package from ISK 249,000. Online assessment: ISK 39,000. We confirm scope and final pricing before you order. Works budgets and specialist fees are separate.

Does the assessment replace a design or technical survey?

No. The assessment organises the business options and identifies what needs verification. Design, specialist surveys and statutory supervision require appropriate professionals. Their scope is agreed for the specific property.

YOUR NEXT STEP

Let's review your
property
in Iceland.

Share the listing and your plans. We will reply by email to agree the scope and a time to talk. An enquiry is not an order or a booking.

WRITE OR CALLinvestors@victoriumcapital.com+354 782 6307
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