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The housing market in Slovakia continues to stagnate

25.10.2023
Homesoverseas.ru editorial office
369

In the 3rd quarter of 2023, only 176 apartments in new buildings were sold in Bratislava. This is 70% less than in the same period of 2021, when 642 apartments were sold.

In the 1st and 2nd quarter of this year, the sales of apartments on the primary market also did not exceed 200.

Experts attribute the decline in sales to difficult mortgage lending conditions and high interest rates.

Despite the decrease in the number of transactions, prices in new buildings continue to rise. In the summer, the average price of apartments for the first time exceeded 5,000 euros per sq. m., and in the 3rd quarter it increased by another 4.3% to 5110 euros per sq. m. This growth is associated with the appearance of elite offers on the market. In addition, developers cannot reduce prices due to the rise in the cost of construction in 2021 and 2022.

The average cost of real estate in Bratislava in the 3rd quarter increased by 7% year-on-year and amounted to 322,000 euros.

Currently, 3233 apartments in 80 projects are for sale in Bratislava. This is a small number considering the size of the city.

Source: The Slovak Spectator

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