Average price of flats more than doubled over 15 Years

The average cost of floor space in flats in Slovakia more than doubled between 2002 and 2017, reaching its peak in 2008, followed by the financial crisis, states an informative report on the implementation of the State Housing Policy Concept until 2020. According to data from the Slovak central bank (NBS) quoted in the report, the average price of a square metre in flats in Slovakia in 2002 was €592 per square metre, while in 2017 it was €1,360. An average price of €1,000 per square metre was reached in 2006. The growth in prices for flats highlights regional differences on the housing market, states the report. "In the long term, the highest prices of flats are in the Bratislava region, followed by the Kosice and Trnava regions. In other regions, the average housing price doesn't even reach half of the average housing price in the Bratislava region," reads the report. The current average price of flats has not exceeded the 2008 peak in any Slovak region, although in the Bratislava region it is only 3.9 percent below the record of €1,972 per square metre set in 2008.