1. Re: beer and food prices in bars. when I was there last, at the end of August, prices in downtown Reykjavik were typically 1000-1300Kr, which is around £7 - £9, for half a litre. There are quite a lot of happy hours from late afternoon to mid evening where you can get 2 for 1, or a beer for half price.. The Cost of Beer in Reykjavik. Let's get right to it. On average, a beer in Reykjavik would cost you about 1000-1200 Icelandic Krona or ISK. This is equivalent to around $7.5-$9 USD, or £5.5-£6.5 GBP.
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The hustle and bustle are perfectly energetic after a few drinks, however, and if you decide to leave, you're only a stone's throw away from some of Reykjavík's other most popular bars; Lebowski Bar, Kaldi, KiKis, Dillon! Address: Laugavegur 22. Happy hour: 13:00 - 20:00. Beer 750 ISK | Wine 1000 ISK.. Summary of cost of living in Iceland: A family of four estimated monthly costs are 4,714.7$ (662,703.5kr) without rent. A single person estimated monthly costs are 1,274.9$ (179,202.5kr) without rent. Cost of living in Iceland is, on average, 16.2% higher than in United States. Rent in Iceland is, on average, 8.0% lower than in United States.
