The average price of residential property in Slovakia reached €1,230 per square metre in the second quarter of 2013. Compared with the previous quarter it accounts for a decline of only 0.2 percent, according to an analysis from the Slovak Central Bank. ”Current data on falling average real estate prices has confirmed more than three years of relative stagnation in the Slovak housing market,” the material reads. I
In recent years, housing prices remain below average prices of houses and apartments back in 2010. ”Already a five year lasting decrease in average housing prices represents only around 44 percent of the amount by which average residential property price increased during the three and a half year period at the time of the real estate boom,” reads the analysis. This increase should have represented €719 per square metre.
According to Post Bank analyst Eva Sadovská, the current economic situation and high unemployment in Slovakia are not likely to create favourable conditions for a more significant price increase. However she neither considers a steeper decrease to be likely. Data from the Central Bank shows that people living around Bratislava spent the most to buy their homes in the second quarter because the price per square meter in this area was €1,670 on average. Conversely, the cheapest housing properties can be purchased in the Nitra County, where the average price of houses and apartments is €588 per square meter. Currently, average prices of apartments are more than 14 percent higher than the average prices of houses. ”It is no wonder that people from Bratislava in recent years have their eyes on houses on the other side of our border,” commented Sadovská. In neighbouring Hungary, prices of apartments and houses fell by 9.3 percent according to statistics from the first quarter, while they are 0.9 percent cheaper in the Czech Republic.
