Prices of housing property dropped on the year in the first quarter - by 0.2 percent according to Eurostat's methodology and by as much as 1.5 percent according to analysis by Poštová Banka.
Property prices in Slovakia remain around one-fifth lower than just before the economic and financial crisis broke out in 2008. According to the bank’s analyst Dana Vrabcova, no sizable moves in prices are foreseen for the remainder of this year. “The unemployment rate in Slovakia continues to be high and limits the number of people who can afford to buy a new home. On the other hand, the record-low interest rates on housing loans may prompt those who have so far played the waiting game to buying a home,” said Vrabcova.
Christopher George
