Lack of housing a major issue for Faroes aquaculture

The autumn report says that both fishing and aquaculture face several challenges ahead, particularly over fishing quotas.

The territory’s aquaculture sector is less of a problem, but that too has issues of its own.

The report states: “Salmon production in sea cages continues to grow and is expected to be 154% percent greater this year than in 2023.

“The Faroe Islands have an advantage in sea temperatures, but there are limitations in the capacity in the fjords, which means that production must take place to a greater extent in country. “

It adds: “The prices of salmon have been stable, but there is uncertainty about future price increases.”

Like fish farming communities in other northern countries, finding suitable housing for fish farm and other seafood staff presents a problem often because they work in isolated areas. Salmon Scotland has also raised the housing issue, arguing that some of the funds raised from rents charged by Crown Estate Scotland should be invested in rural housing.

The report says: “The shortage of housing is an important bottleneck that is preventing further population and economic growth in Faroe Islands.

“Therefore, municipalities with large population growth should accelerate the allocation of land, especially for the construction of apartments and other smaller housing units, so that the emergency needs are met more quickly.”

It also believes the authorities should contribute towards the cost of constructing rental apartments.

It adds: “The demand for labour is high, and one way to increase the labour force is to get foreigners to work in Faroe Islands.”

At least 40% of the 1,500 people who work in seafood are now from outside the islands, the report points out.