Residential property prices fell by 2 percent in 2011

The prices of residential property shrank by 2 percent last year on an annual basis, but a more pronounced drop was seen in some other European Union member countries, analysts from Poštová Banka told the TASR newswire on Monday, October 1.

The prices of residential property shrank by 2 percent last year on an annual basis, but a more pronounced drop was seen in some other European Union member countries, analysts from Poštová Banka told the TASR newswire on Monday, October 1.

"A much steeper, double-digit fall in the prices of flats and houses was seen in Romania (14.3 percent) and Ireland (14 percent)," said the bank, citing figures from Eurostat. Analysts pointed to so-called ghost houses in Ireland, where 300,000 out of more than half a million houses and flats built during the real estate boom are now vacant. Spain is experiencing similar problems, with their property prices dropping by 7.4 percent in 2011 year-on-year. On the other hand, the prices of residential property went up in France and Luxembourg - by 6 and 4.2 percent, respectively.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

A long wait is in store for foreigners seeking residence permits.

Interior Ministry still approaches foreigners in Slovak

IN ORDER to avoid endless waiting lines in Bratislava’s Office of the Border and Alien Police, the police called on foreign students to prolong their stay. However, foreigners not speaking Slovak may have difficulty…

The AeroMobil 3.0

Government okayed support for flying car development

BRATISLAVA-based company AeroMobil R&D, which is engaged in the development of a flying car, will be granted investment assistance of nearly €6 million from state coffers towards research and development activities,…

Starting early with English.

What makes a language teacher good

One need not be American or British to teach English well. Non-native English teachers bring other kinds of classroom benefits that are sometimes overlooked.

Spiš Castle is impressive from the air as well as from the ground.

Spiš Castle among the most searched destination in Slovakia

GOOGLE has published the list of the Slovak destinations which users search the most via its Google Maps website.