My sense that most of it isn't very habitable for geological / logistical reasons, sort of like the interior of Australia, but I'm talking out my ass.

Im betting that 98% of their wealth just stays on the island. 
So it will only continue to grow. 

Land shouldn't be too expensive. The country is huge for just 300k people

bellabaxter

I have no idea. 
I just know they have beautiful green grass. 

Satosora

Is real estate super expensive in Iceland?  You don't hear much about what's going on there.