Housing availability in Slovakia is currently at its lowest point in the past decade. (source: TASR)
Up to 58 percent of people aged 25–34 in Slovakia live with their parents. This is not merely because the arrangement is convenient; in reality, given current property prices and average wages, most young adults have little choice.
Housing availability in Slovakia is currently at its lowest point in the past decade, reports the daily Denník N.
Citing data from Eurostat, Slovakia has the second highest proportion of young adults living with their parents, surpassed only by Croatia. By comparison, the European average stands at 30 percent.
Furthermore, the average age at which young Slovaks move out is just under 31, while the European average is 26. In Finland and Denmark, young people typically leave home at 21 or 22.
One reason for this disparity is that Denmark offers the most accessible housing in Europe, according to the Delloite data. In contrast, Slovakia ranks second to last in housing accessibility. To illustrate, purchasing a 70-square-metre flat in Denmark would require nearly five years’ worth of wages (excluding living and other expenses), whereas in Slovakia it would take approximately 13 years’ worth of earnings.
According to Matej Horňák, an analyst at Slovenská Sporiteľňa bank, the situation is further worsened by the “extremely low number” of rental properties available.
Although the current government has pledged to support rental housing, a significant increase in available flats is unlikely in the near future.
