Real estate prices in Slovakia are rising at a record pace, doubling over the past eight years. Analysts expect housing costs to increase further this autumn, partly due to a new fee. Despite this, Slovakia still enjoys lower interest rates than its neighbors.
According to the National Bank of Slovakia, the average housing price in Quarter 2 reached €2,777 per square meter—€315 more than last year and double the 2017 level.
According to the spokeswoman of the Statistical Office of the Slovak Republic Jana Morháčová, growth is visible across all regions, with the smallest rise in Trenčín (6.3%) and the highest in Prešov (16%). Double-digit increases were also recorded in Bratislava, Nitra, Banská Bystrica, and Košice regions.
In regional capitals, the average price per square meter stands at €3,212. Compared to incomes, Košice residents are hit hardest, needing more than 14 gross annual salaries for a 70 m² flat, while in Bratislava it’s over 12.
Analyst Vladimír Kubrický of the Real Estate Union said weak supply and buyer sentiment continue to drive prices upward. Meanwhile, thanks to Eurozone membership, Slovakia still benefits from lower mortgage rates than countries outside the euro area, with the ECB base rate at 2%.
Source: STVR
