"The prices of real estate compared to the average income in Slovakia are the lowest in the last 10 years", stated Ján Tóth, the vice-governor of National Bank of Slovakia. Tóth emphasized that today's situation is nowhere near a price bubble. Prices fell and didn't grow after the crisis. On the contrary, the incomes have continually been increasing. Moreover, mortgages are very cheap and their early repayment fees have fallen from 5 to 1%. "At the moment we can say that real estate prices are undervalued compared to what people can afford", concluded Tóth.
Mojmir Prochazka, Photo: SITA
